21) If you want to earn an annualized discount rate of 5%, what is the most you can pay for a 95- day Treasury bill that pays $1000 at maturity?

EBK CONTEMPORARY FINANCIAL MANAGEMENT
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ISBN:9781337514835
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Chapter6: Fixed-income Securities: Characteristics And Valuation
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21) If you want to earn an annualized discount rate of 5%, what is the most you can pay for a 95-
day Treasury bill that pays $1000 at maturity?
Transcribed Image Text:21) If you want to earn an annualized discount rate of 5%, what is the most you can pay for a 95- day Treasury bill that pays $1000 at maturity?
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