Give typing answer with explanation and conclusion You purchase a 188-day, $1000 U.S. Treasury bill at 0.36% discount. On the date of maturity, you will receive $1000. What is the actual rate of interest of the Treasury bill? Express the rate as a percent rounded to four decimal places.
Give typing answer with explanation and conclusion You purchase a 188-day, $1000 U.S. Treasury bill at 0.36% discount. On the date of maturity, you will receive $1000. What is the actual rate of interest of the Treasury bill? Express the rate as a percent rounded to four decimal places.
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
ChapterA3: Time Value Of Money
Section: Chapter Questions
Problem 21E
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Give typing answer with explanation and conclusion
You purchase a 188-day, $1000 U.S. Treasury bill at 0.36% discount. On the date of maturity, you will receive $1000. What is the actual rate of interest of the Treasury bill? Express the rate as a percent rounded to four decimal places.
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