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Gelneren [198K]
3 years ago
11

Suppose that you purchase a 182-day Treasury bill for $9,850 that is worth $10,000 when it matures. The security's annualized yi

eld if held to maturity is about A. 1.5%. B. 2%. C. 3%. D. 6%.
Business
1 answer:
Ivahew [28]3 years ago
3 0

Answer:

Annual interest rate= 3%

Explanation:

Giving the following information:

Present value= $9,850

Future value= $10,000

Number of days= 182

<u>First, we need to calculate the daily interest rate. We will use a financial calculator (the formula is incredibly difficult to use):</u>

<u></u>

Function= CMPD

n= 182

I%= SOLVE = 0.0083

PV= 9,850

FV= -10,000

<u>Now, the annual interest rate:</u>

Annual interest rate= 0.0083*365= 3.02 = 3%

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