Question: Assume the data below for a particular U.S. Treasury bill. Days to Maturity Bid Asked 120 3.5% 3.4% The Bid and Asked columns are discount

  1. Assume the data below for a particular U.S. Treasury bill.

    Days to Maturity

    Bid

    Asked

    120

    3.5%

    3.4%

    The "Bid" and "Asked" columns are "discount yields." What was the "asked" price for this T-bill expressed as a percent of face value?

    a.

    98.833%
    b.

    96.500%
    c.

    98.867%
    d.

    96.600%

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