Multiple Choice
TR Bank is planning to purchase a T-bill with a $100,000 face value. The T-bill is quoted at a bank discount of 2.1% and has 220 days to maturity. What is the T-bill's effective annual yield (EAY) ?
A) 2.15%
B) 2.17%
C) 2.19%
D) 2.21%
Correct Answer:
Verified
Correct Answer:
Verified
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