Treasure bills (T-bills) are used by the U.S. Treasury Department to finance the public debt. Suppose a 180-day T-bill with a maturity value of $10,000 is purchased for $9,885.56. What annual simple interest rate is earned on this T-bill? (Answer as a percentage rounded to three decimal places.) I= PRT, A = P+I

Treasure bills (T-bills) are used by the U.S. Treasury Department to finance the public debt. Suppose a 180-day T-bill with a maturity value of $10,000 is purchased for $9,885.56. What annual simple interest rate is earned on this T-bill? (Answer as a percentage rounded to three decimal places.) I= PRT, A = P+I

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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