a) On June 1st, when there was 120 days remaining in its term, Jason purchased a 180-day T-bill with a face value of $25,000. The market yield at this time was 3.5%. What was the price that Jason paid for the T-bill?

a) On June 1st, when there was 120 days remaining in its term, Jason purchased a 180-day T-bill with a face value of $25,000. The market yield at this time was 3.5%. What was the price that Jason paid for the T-bill?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

a) On June 1st, when there was 120 days
remaining in its term, Jason purchased a 180-day
T-bill with a face value of $25,000. The market
yield at this time was 3.5%. What was the price
that Jason paid for the T-bill?

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