Barbara bought a 91-day T-bill that has an interest rate of 4.30% p.a. and a face value
Fantastic news! We've Found the answer you've been seeking!
Question:
Barbara bought a 91-day T-bill that has an interest rate of 4.30% p.a. and a face value of $5,000.
- How much did she pay for the T-Bill?
- After 40 days, Barbara sold the T-bill to her friend when the interest rate for this T-bill in the market increased to 5.30% p.a.
- What was her selling price?
Related Book For
Engineering Economy
ISBN: 978-0132554909
15th edition
Authors: William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Posted Date: