Essay
Government of Manitoba 364-day T-bills with a face value of $2 000 000 were purchased on April 17 for $1 945 970. The T-bills were sold on May 25 for $1 946 340.
a) What was the market yield rate on April 17?
b) What was the yield rate on May 25?
c) What was the rate of return realized?
Correct Answer:
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a) S = 2 000 000; P = 1 945 97...View Answer
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Correct Answer:
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