with 90 days to maturity and $1 million fa value is 8%. What is the price of the T-bill, considering 360 days in a year? Select an option Clear F $24,000

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter2: The Domestic And International Financial Marketplace
Section: Chapter Questions
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The yield on a bank discount basis on a T-bill
with 90 days to maturity and $1 million face
value is 8%. What is the price of the T-bill,
considering 360 days in a year?
Select an option
Clear Response
$24,000
$16,000
$18,000
O $20,000
Transcribed Image Text:The yield on a bank discount basis on a T-bill with 90 days to maturity and $1 million face value is 8%. What is the price of the T-bill, considering 360 days in a year? Select an option Clear Response $24,000 $16,000 $18,000 O $20,000
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