What is the discount yield, bond equivalent yield, and effective annual return on a $ 1 million

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What is the discount yield, bond equivalent yield, and effective annual return on a $ 1 million Treasury bill that currently sells at 97.375 percent of its face value and is 65 days from maturity?

Face Value
Face value is a financial term used to describe the nominal or dollar value of a security, as stated by its issuer. For stocks, the face value is the original cost of the stock, as listed on the certificate. For bonds, it is the amount paid to the...
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Financial Markets and Institutions

ISBN: 978-0077861667

6th edition

Authors: Anthony Saunders, Marcia Cornett

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