Question: Challenge Problem 1 1 - 2 3 ( Algo ) [ LU 1 1 - 1 ( 4 ) ] Assume that 3 - month
Challenge Problem AlgoLU Assume that month Treasury bills totaling $ billion were sold in $ denominations at a discount rate of In addition, the Treasury Department sold month bills totaling $ billion at a discount rate of a What is the discount amount for a $ month bill? Note: Do not round intermediate calculations. Round your final answer to the nearest cent. Answer is complete and correct. b What is the discount amount for a $ month bill? Note: Do not round intermediate calculations. Round your final answer to the nearest cent. Answer is complete but not entirely correct. c What is the effective rate for a $ month bill?
Note: Do not round intermediate calculations. Round your final answer to the nearest hundredth percent.
d What is the effective rate for a $ month bill?
Note: Do not round intermediate calculations. Round your final answer to the nearest hundredth percent.
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