Question: This is an interest theory class. This problem should ONLY have one answer, NOT TWO! Please help me, will upvote thanks. Jie purchased two U.S.
This is an interest theory class. This problem should ONLY have one answer, NOT TWO! Please help me, will upvote thanks.
Jie purchased two U.S. Treasury bills on the same day. The first one will mature in 13 weeks for $11,000, with quoted rate of 1.93%. The other one will mature in 26 weeks for $17,000 and has a quoted rate of 2.35%. What is Jie's annual effective yield (as a percent) for the 26-week period, assuming that there are 365 days in a year? (Round your answer to two decimal places.) 2.35 X %
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