The Treasury Department would like to raise $24 billion in 90 day T Bills. The auction results are as follows:Noncompetitive bids = $3.4 billionCompetitive Bids:InvestorBid PriceQuantity(Face Value)99.94677%$7.8 billion99.97567%$5.8 billion99.95668%$5.2 billionD99.96997%$3.2 billionE99.95112%$8.6 billionWhat is the stop-out price?O 99.97567%O 99.96997%O 99.94677%99.95668%99.95112%

Stop-Out Price is lowest price at which Treasury Securities are issued or highest price by bidders…

The Treasury Department would like to raise $24 billion in 90 day T Bills. The auction results are as follows: Noncompetitive bids $3.4 billion Competitive Bids: Investor Bid Price Quantity(Face Value). A 99.94677% $7.8 billion B 99.97567% $5.8 billion 99.95668% $5.2 billion 99.96997% $3.2 billion E 99.95112% $8.6 billion What is the stop-out price? 99.97567% 99.96997% 99.94677% 99.95668% 99.95112%

The Treasury Department would like to raise $24 billion in 90 day T Bills. The auction results are as follows: Noncompetitive bids $3.4 billion Competitive Bids: Investor Bid Price Quantity(Face Value). A 99.94677% $7.8 billion B 99.97567% $5.8 billion 99.95668% $5.2 billion 99.96997% $3.2 billion E 99.95112% $8.6 billion What is the stop-out price? 99.97567% 99.96997% 99.94677% 99.95668% 99.95112%

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter2: The Domestic And International Financial Marketplace

Section: Chapter Questions

Problem 4P

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