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A Tbill With Face Value $10 000 And 82 Days To Maturity Is Selling At A Bank Discount Ask Yield Of

Question

A T-bill with face value $10,000 and 82 days to maturity is selling at a bank discount ask yield of

2.9%.

Face Value $10,000.00

days to maturity 82 days

Asked yield 2.90%

a. What is the price of the bill?

(Use 360 days a year. Do not round intermediate calculations. Round your answer to 2 decimal places.)

b. What is its bond equivalent yield?

(Use 365 days a year. Do not round intermediate calculations. Round your answer to 2 decimal places.)

Finance