Essay
TR Bank is planning to purchase a T-bill with a face value of $100,000. The T-bill is quoted at a bank discount of 2.1% and has 320 days to maturity. Find the T-bill's price, bond equivalent yield (BEY) and equivalent annual yield (EAY).
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Price: 100,000 x [ 1 - 0.021 x...View Answer
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