A company wants to invest some surplus short-term funds and plans to buy a 90- day bank bill with a face value of $100, 000. What is the yield on the bill if the price on the bill is currently $98, 566? (Assume there are 365 days in a year) % Please round your answer to two decimal places.

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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A company wants to invest some surplus short-term funds and plans to buy a 90-
day bank bill with a face value of $100, 000. What is the yield on the bill if the
price on the bill is currently $98, 566? (Assume there are 365 days in a year)
%
Please round your answer to two decimal places.
Transcribed Image Text:Question 18 Not yet answered A company wants to invest some surplus short-term funds and plans to buy a 90- day bank bill with a face value of $100, 000. What is the yield on the bill if the price on the bill is currently $98, 566? (Assume there are 365 days in a year) % Please round your answer to two decimal places.
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