24. In a Treasury auction of $2.4 billion par value 91-day T-bills, the following bids were submitted: Bidder Bid Amount $500 million $750 million $1.5 billion $1 billion $600 million 1 2 3 4 5 Price $0.9940 $0.9901 $0.9925 $0.9936 $0.9939 If only these competitive bids are received, in what quantity and at what price the bidder 3 will receive T-bills?
24. In a Treasury auction of $2.4 billion par value 91-day T-bills, the following bids were submitted: Bidder Bid Amount $500 million $750 million $1.5 billion $1 billion $600 million 1 2 3 4 5 Price $0.9940 $0.9901 $0.9925 $0.9936 $0.9939 If only these competitive bids are received, in what quantity and at what price the bidder 3 will receive T-bills?
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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Transcribed Image Text:24. In a Treasury auction of $2.4 billion par value 91-day T-bills, the following bids were submitted:
Bidder
Bid Amount
$500 million
$750 million
$1.5 billion
$1 billion
$600 million
1
2
3
4
5
Price
$0.9940
$0.9901
$0.9925
$0.9936
$0.9939
If only these competitive bids are received, in what quantity and at what price the bidder 3 will receive
T-bills?
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