Jake purchased a $100,000 120-day T-bill discounted to yield 1.31%. When he sold it 45 days later,
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Jake purchased a $100,000 120-day T-bill discounted to yield 1.31%. When he sold it 45 days later, yields had dropped to 1.25%. How much did Jake earn? (Do not round intermediate calculations and round your final answer to 2 decimal places.)
Related Book For
Intermediate Accounting Volume 1
ISBN: 978-1119496496
12th Canadian edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Irene M. Wiecek, Bruce J. McConomy
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