Answered: You paid $99,453.67 for a $100,000…

You paid $99,453.67 for a $100,000 91-day T-bill 51 days before it matured, what discount rate did you use? 3.29% 3.59% 3.99% 4.39%

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter21: Supply Chains And Working Capital Management

Section: Chapter Questions

Problem 6P

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Question

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You paid $99,453.67 for a $100,000 91-day T-bill 51 days before it matured,
what discount rate did you use?
O 3.29%
3.59%
3.99%
4.39%

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