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A Treasury bill purchased in December 2016 has 115 days until maturity and a bank discount...

A Treasury bill purchased in December 2016 has 115 days until maturity and a bank discount yield of 2.43 percent. Assume a $100 face value.

a. What is the price of the bill as a percentage of face value? (Do not round intermediate calculations. Round your answer to 3 decimal places.)

b. What is the bond equivalent yield? (Do not round intermediate calculations. Enter your answer as a percent rounded to 3 decimal places.)

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jeff jeffy answered 9 months ago
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