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

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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