Problem 31-30 Money-market yields In January 2020, three-month (91-day) Treasury bills were selling at a discount of 158%. 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.
Problem 31-30 Money-market yields In January 2020, three-month (91-day) Treasury bills were selling at a discount of 158%. 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.
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
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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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