A $100,000 168-day T-bill is purchased for $99,004 on its issue date. What simple ate of interest will it yield the buyer if it is held until maturity? xpress your answer as an annual percentage rounded to 2 decimal places but don't nclude the % sign.
A $100,000 168-day T-bill is purchased for $99,004 on its issue date. What simple ate of interest will it yield the buyer if it is held until maturity? xpress your answer as an annual percentage rounded to 2 decimal places but don't nclude the % sign.
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
Problem 1PS
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Transcribed Image Text:A $100,000 168-day T-bill is purchased for $99,004 on its issue date. What simple
ate of interest will it yield the buyer if it is held until maturity?
Express your answer as an annual percentage rounded to 2 decimal places but don't
nclude the % sign.
our Answer:
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