The results of Tender 1065 herd on 2nd May 2008 for Government of Ghana Securities show the rates for 91 Day and 182 Day Treasury Bills as follows: Securities Range of Bid Rates (% P.A) Bid Rate Allotted in Full (% P.A) Discount Rates Interest Rates 91 Day Bill 10.79 - 13.00 ? - ? 182 Day Bill 11.00 - 12.70 10.79 - 12.80 ? - ? 1 Year Note 12.00 - 14.00 11.00 - 12.70 12.00 - 14.00 2 Year Fixed Rate Note 13.00 - 14.00 13.00 - 14.00 3 Year Fixed Rate Note 14.00 - 16.50 14.00 - 16.50 Using the Discount Rates provided for the 91 Day Bill and 182 Day Bill, calculate their Interest Equivalent Rates indicated in the table with Question Marks (?). NOTE: DO NOT DRAW THE TABLE
The results of Tender 1065 herd on 2nd May 2008 for Government of Ghana Securities show the rates for 91 Day and 182 Day Treasury Bills as follows: Securities Range of Bid Rates (% P.A) Bid Rate Allotted in Full (% P.A) Discount Rates Interest Rates 91 Day Bill 10.79 - 13.00 ? - ? 182 Day Bill 11.00 - 12.70 10.79 - 12.80 ? - ? 1 Year Note 12.00 - 14.00 11.00 - 12.70 12.00 - 14.00 2 Year Fixed Rate Note 13.00 - 14.00 13.00 - 14.00 3 Year Fixed Rate Note 14.00 - 16.50 14.00 - 16.50 Using the Discount Rates provided for the 91 Day Bill and 182 Day Bill, calculate their Interest Equivalent Rates indicated in the table with Question Marks (?). NOTE: DO NOT DRAW THE TABLE
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The results of Tender 1065 herd on 2nd May 2008 for Government of Ghana Securities show the rates for 91 Day and 182 Day Treasury Bills as follows:
| Securities | Range of Bid Rates (% P.A) | Bid Rate Allotted in Full (% P.A) | |
| Discount Rates | Interest Rates | ||
| 91 Day Bill | 10.79 - 13.00 | ? - ? | |
| 182 Day Bill | 11.00 - 12.70 | 10.79 - 12.80 | ? - ? |
| 1 Year Note | 12.00 - 14.00 | 11.00 - 12.70 | 12.00 - 14.00 |
| 2 Year Fixed Rate Note | 13.00 - 14.00 | 13.00 - 14.00 | |
| 3 Year Fixed Rate Note | 14.00 - 16.50 | 14.00 - 16.50 | |
Using the Discount Rates provided for the 91 Day Bill and 182 Day Bill, calculate their Interest Equivalent Rates indicated in the table with Question Marks (?).
NOTE: DO NOT DRAW THE TABLE
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