What is the price of a U.S. Treasury bill with 83 days to maturity quoted at a discount yieldof 1.85 percent? Assume a $1 million face value. (Enter your answer in dollars not inmillions. Do not round intermediate calculations. Round your answer to 2 decimalplaces.)Price

$ 995,734.72Explanation:ANSWER :

Answered: What is the price of a U.S. Treasury…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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What is the price of a U.S. Treasury bill with 83 days to maturity quoted at a discount yield of 1.85 percent? Assume a $1 million face value. (Enter your answer in dollars not in millions. Do not round intermediate calculations. Round your answer to 2 decimal places.) Price