On December 3, 2014, Trinity purchased a 364-day, $6000 U.S. Treasury bill at a 0.12% discount. (a)
Question:
On December 3, 2014, Trinity purchased a 364-day, $6000 U.S. Treasury bill at a 0.12% discount.
(a) What is the date of maturity of the Treasury bill?
(b) How much did Trinity actually pay for the Treasury bill?
(c) How much interest did the U.S. government pay Trinity on the date of maturity?
(d) What is the actual rate of interest of the Treasury bill? Round the answer to the nearest thousandths of a percent.
MaturityMaturity is the date on which the life of a transaction or financial instrument ends, after which it must either be renewed, or it will cease to exist. The term is commonly used for deposits, foreign exchange spot, and forward transactions, interest...
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
a Dec 3 is day 337 337 364 701 701 36...View the full answer
Answered By
Utsab mitra
I have the expertise to deliver these subjects to college and higher-level students. The services would involve only solving assignments, homework help, and others.
I have experience in delivering these subjects for the last 6 years on a freelancing basis in different companies around the globe. I am CMA certified and CGMA UK. I have professional experience of 18 years in the industry involved in the manufacturing company and IT implementation experience of over 12 years.
I have delivered this help to students effortlessly, which is essential to give the students a good grade in their studies.
2+ Reviews
10+ Question Solved
Related Book For 
A Survey of Mathematics with Applications
ISBN: 978-0134112107
10th edition
Authors: Allen R. Angel, Christine D. Abbott, Dennis Runde
Question Posted:
