In January 2020, three-month (91-day) Treasury bills were selling at a discount of 1.58%. What was the annual yield? Assume 365 days in a year. Note: Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places. Answer is complete but not entirely correct. Annual yield 6.44 %

Essentials Of Investments
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Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
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Problem 31-30 Money-market yields
In January 2020, three-month (91-day) Treasury bills were selling at a discount of 1.58%. What was the annual yield? Assume 365 days
in a year.
Note: Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.
Answer is complete but not entirely correct.
Annual yield
6.44
%
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Transcribed Image Text:Chegg Home Expert Q&A My solutions Guide Me Notifications 8 Che Student question Time Left: 00:09:01 St Problem 31-30 Money-market yields In January 2020, three-month (91-day) Treasury bills were selling at a discount of 1.58%. What was the annual yield? Assume 365 days in a year. Note: Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places. Answer is complete but not entirely correct. Annual yield 6.44 % Show Transcribed Text
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