You are looking at a quote for a treasury bill with 245, Ask an Expert

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You are looking at a quote for a treasury bill with 245 days to maturity, and observe that the Ask Yield is quoted at 0.08, which is a bank-discount yield.

What is the actual asking price for this bill, if its face value is $10,000?

Recall that the bank-discount yield calculation is:

r = (F-P)/F * (360/n)

Where F is the face value, P is the price, and n is the number of days to maturity.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92742611

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