10 A Treasury bill has a face value of $65,000, an asked yield of 3.05 percent, and matures in 60 days. What is the price of this bill? $64,777.60 $64,819.80 $64,675.74 $64,878.42 $64,868.00

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter2: The Domestic And International Financial Marketplace
Section: Chapter Questions
Problem 4P
icon
Related questions
Question

10

A Treasury bill has a face value of $65,000, an asked yield of 3.05 percent, and matures in 60 days. What is the price of this bill?

$64,777.60

$64,819.80

$64,675.74

$64,878.42

$64,868.00

Expert Solution
Step 1

Given Information:

Face Value = $ 65,000

Yield = 3.05%

Number of days to maturity (n) = 60 days

steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Yields on Money Market Securities
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, finance and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
EBK CONTEMPORARY FINANCIAL MANAGEMENT
EBK CONTEMPORARY FINANCIAL MANAGEMENT
Finance
ISBN:
9781337514835
Author:
MOYER
Publisher:
CENGAGE LEARNING - CONSIGNMENT