c) Man - Duen wants to buy a $28,000.00 T - bill that matures on 2019-12-08. His target price is $27,729.66, the (annual) sir convention is ACT /360. What is the last date on which he can still buy the T-bill? How much does he pay?

Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications
Section: Chapter Questions
Problem 13E
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c) Man - Duen wants to buy a $28,000.00 T - bill that matures on 2019 - 12 - 08. His target price is $27,729.66, the (annual) simple interest rate is 3.120% and the daycount
convention is ACT /360. What is the last date on which he can still buy the T - bill? How much does he pay?
Transcribed Image Text:c) Man - Duen wants to buy a $28,000.00 T - bill that matures on 2019 - 12 - 08. His target price is $27,729.66, the (annual) simple interest rate is 3.120% and the daycount convention is ACT /360. What is the last date on which he can still buy the T - bill? How much does he pay?
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