Ninety days ago, you purchased a 180-day Treasury bill with a face value of $500,000. At the
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Question:
Ninety days ago, you purchased a 180-day Treasury bill with a face value of $500,000. At the time of your purchase, the yield to maturity on the bill was 6.0% p.a. If the current yield to maturity on the bill is 4.0% p.a. the price of the bill today is closest to:
a) $485,631.
b) $490,328.
c) $492,711.
d) $495,117.
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