Question: Suppose that on January 1 , 2 0 2 4 , the price of a one - year Treasury bill - with a face value

Suppose that on January 1,2024, the price of a one-year Treasury bill-with a face value of $1,000- is $931.87. Investors expect that the inflation rate will be 5% during 2024, but at the end of the year, the inflation rate turns out to have been 2%.
The nominal interest rate on the bill (measured as the yield to maturity)1%.(Round your response to two decimal places.)
Suppose that on January 1,2024, the price of a one-year Treasury

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