Use a banker's year described above to answer this question. T-bills (Treasury bills) are one of the instruments the U.S. Treasury Department uses to finance public debt. If you buy a 290-day T-bill with a maturity value of $19,750 for $19,350.89, what annual simple interest rate will you earn? Express your answer as a percentage. _%. Round to the nearest thousandths of a percent (3 decima places).
Use a banker's year described above to answer this question. T-bills (Treasury bills) are one of the instruments the U.S. Treasury Department uses to finance public debt. If you buy a 290-day T-bill with a maturity value of $19,750 for $19,350.89, what annual simple interest rate will you earn? Express your answer as a percentage. _%. Round to the nearest thousandths of a percent (3 decima 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
Section: Chapter Questions
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Treasury bills are very important form of investments being used in business. Investor earns interest on purchase of treasury bills.
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