Syed Bought 168 Day Government of Canada T-Bills on 30

Multiple Choice

Syed bought 168 day Government of Canada T-Bills on 30 April 2016, yielding 0.6%. The face value of the bills was $55 000. He immediately sold it to a client, Zeb, at a higher price that presented a yield to the client of 0.54%. Zeb sold the T-bills after 99 days, when the short term maturity had risen to 0.75%. What profit did Zeb make?

A) $15.11
B) $58.49
C) $0
D) $24.70