Lydia Purchased a $100,000 150-Day T-Bill When the Prevailing Yield

Short Answer

Lydia purchased a $100,000 150-day T-bill when the prevailing yield on T-bills was 4.5%. She sold the T-bill 60 days later when the prevailing yield was 4.2%. What simple interest rate did Lydia earn during the 60-day period? (Taken from CIFP course materials.)