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How much would you pay for a U.S. Treasury bill with 108 days to maturity quoted...

How much would you pay for a U.S. Treasury bill with 108 days to maturity quoted at a discount yield of 2.41 percent? Assume a $1 million face value. (Enter your answer in dollars not in millions. Do not round intermediate calculations. Round your answer to 2 decimal places.)

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Answer #1

The amount you would pay for a treasury bill is:

=1000000*(1-(0.0241*(108/360)))

=992770

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