Question: Challenge Problem 1 1 - 2 3 ( Algo ) [ LU 1 1 - 1 ( 4 ) ] Assume that 3 - month

Challenge Problem 11-23(Algo)[LU 11-1(4)] Assume that 3-month Treasury bills totaling \(\$ 32\) billion were sold in \(\$ 10,000\) denominations at a discount rate of \(6.650\%\). In addition, the Treasury Department sold 6-month bills totaling \(\$ 30\) billion at a discount rate of \(6.595\%\). a. What is the discount amount for a \(\$ 10,000\)3-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 \(\$ 10,0006\)-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 \(\$ 10,000\)3-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 \(\$ 10,000\)6-month bill?
Note: Do not round intermediate calculations. Round your final answer to the nearest hundredth percent.
Challenge Problem 1 1 - 2 3 ( Algo ) [ LU 1 1 - 1

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