Question: Problem 1 ( This problem will need to show work ) A T - bill with face value of $ 1 0 , 0 0

Problem 1(This problem will need to show work)
A T-bill with face value of $10,000 and 97 days to maturity is selling at a bank discount ask yield of 3.0%?
What is the price of the bill? ($9,919.17)
What is the bond equivalent yield? (3.06645%)
What is the effective annual yield? (3.10%)

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