Solved: 6670 involve treasury bills,T-Bill Auction As the result of a treasury bill
Chapter 6, Problem 70(choose chapter or problem)
6670 involve treasury bills,T-Bill Auction As the result of a treasury bill auction, 1-monthT-bills were issued in January 2008 at a price of $997.48 per$1000 face value. How much interest would be received on thematurity date for an investment of $5,000? What is the perannum simple interest rate for this investment, rounded to thenearest thousandth of a percent?Source: United States Treasury
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