A 6-month $13,500 treasury bill with a simple annual discount rate of 0.43% was sold in 2016. Assume 365 days in a year (a) Find the price of the treasury bill (T-bill). (b) Find the actual interest rate paid by the Treasury. (a) The price of the T-bill was $ (Round to the nearest cent as needed.) (b) The actual interest rate paid by the Treasury is% (Type an integer or decimal rounded to four decimal places as needed.)

A 6-month $13,500 treasury bill with a simple annual discount rate of 0.43% was sold in 2016. Assume 365 days in a year (a) Find the price of the treasury bill (T-bill). (b) Find the actual interest rate paid by the Treasury. (a) The price of the T-bill was $ (Round to the nearest cent as needed.) (b) The actual interest rate paid by the Treasury is% (Type an integer or decimal rounded to four decimal places as needed.)

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter16: Working Capital Policy And Short-term Financing

Section: Chapter Questions

Problem 14P

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