What is the price of the bill what is its bond equivalent
Finance
A T-bill with face value $10,000 and 92 days to maturity is selling at a bank discount ask yield of 3.9%.
a. What is the price of the bill?
(Use 360 days a year. Do not round intermediate calculations. Round your answer to 2 decimal places.)
Price of the bill =$ 9900.33
b. What is its bond equivalent yield?
(Use 365 days a year. Do not round intermediate calculations. Round your answer to 2 decimal places.)
Bond equivalent yield 3.99 %
