Jie purchased two U.S. Treasury bills on the same day. The first one will mature in 13 weeks for $13,000, with quoted rate of 1.93%. The other one will mature in 26 weeks for $16,000 and has a quoted rate of 2.35%. What is Jie's annual effective yield (as a percent) for the 26-week period, assuming that there are 365 days in a year? (Round your answer to two decimal places.) %

Jie purchased two U.S. Treasury bills on the same day. The first one will mature in 13 weeks for $13,000, with quoted rate of 1.93%. The other one will mature in 26 weeks for $16,000 and has a quoted rate of 2.35%. What is Jie's annual effective yield (as a percent) for the 26-week period, assuming that there are 365 days in a year? (Round your answer to two decimal places.) %

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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