Do not copy from anywhere On 2 September, a 90-day bill issued with a maturity of 1 December had a quoted price of $92. One 2 October (i.e. 30 days passed), the price was $92.50. Assume the bill face value is $1mil. Suppose that Harold bought 15 bills on 2 September and sold on 2 October, how much has Harold made or lost? Choose the closest answer. A. $107,487 B. -$7,166 C. -$107,487 D. $7,166
Do not copy from anywhere On 2 September, a 90-day bill issued with a maturity of 1 December had a quoted price of $92. One 2 October (i.e. 30 days passed), the price was $92.50. Assume the bill face value is $1mil. Suppose that Harold bought 15 bills on 2 September and sold on 2 October, how much has Harold made or lost? Choose the closest answer. A. $107,487 B. -$7,166 C. -$107,487 D. $7,166
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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Do not copy from anywhere
On 2 September, a 90-day bill issued with a maturity of 1 December had a quoted price of $92. One 2 October (i.e. 30 days passed), the price was $92.50. Assume the bill face value is $1mil. Suppose that Harold bought 15 bills on 2 September and sold on 2 October, how much has Harold made or lost? Choose the closest answer.
A. |
$107,487 |
|
B. |
-$7,166 |
|
C. |
-$107,487 |
|
D. |
$7,166 |
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