Ninety days ago, you purchased a 180-day Treasury bill with a face value of $2 million. At that time, the yield to maturity on the bill was 8.0% p.a. The current yield to maturity on the bill is 6.0% p.a. The price of the bill today is closest to: O $1,961,311. O $1,970,842. O $1,924,091. O $1,942,523.

Ninety days ago, you purchased a 180-day Treasury bill with a face value of $2 million. At that time, the yield to maturity on the bill was 8.0% p.a. The current yield to maturity on the bill is 6.0% p.a. The price of the bill today is closest to: O $1,961,311. O $1,970,842. O $1,924,091. O $1,942,523.

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter2: The Domestic And International Financial Marketplace

Section: Chapter Questions

Problem 7P

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