Assume the $12,480 Treasury bill, 5% for 15 weeks. Calculate the effective rate of interest. (Use calendar year. Round your answer to the nearest hundredth percent.) Effective rate of interest प

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Treasury Market

On-the-run securities are the most recently issued securities in the market depth and are therefore traded at some premium. The off-the-run securities are the ones issued just before the most recent ones. The on-the-run securities have a lower yield to the investor than the off-the-run securities.