Assume that 3-month treasury bills totaling 24 billion were, Ask an Expert

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Assume that 3-month Treasury bills totaling $24 billion were sold in $10,000 denominations at a discount rate of 5.450%. In addition, the Treasury Department sold 6-month bills totaling $22 billion at a discount rate of 5.395%.

a. What is the discount amount for 3-month bills? (Do not round intermediate calculations. Round your final answer to the nearest cent.)

Discount amount for 3-month bills $

b. What is the discount amount for 6-month bills? (Do not round intermediate calculations. Round your final answer to the nearest cent.)

Discount amount for 6-month bills $

c. What is the effective rate for 3-month bills? (Do not round intermediate calculations. Round your final answer to the nearest hundredth percent.)

Effective rate for 3-month bills %

d. What is the effective rate for 6-month bills? (Do not round intermediate calculations. Round your final answer to the nearest hundredth percent.)

Effective rate for 6-month bills.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92075087

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