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A 364-day, $50,000 face value T-bill is issued when market yields are 2.85%. The T-bill...

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Finance

A 364-day, $50,000 face value T-bill is issued when market yields are 2.85%. The T-bill is sold to another investor every 91 days until maturity, with yields of 3.1%, 2.98%, and 3.15% on each of the dates of sale, respectively. Compute the purchase price for each investor, including the date of issue. For each investor, calculate the actual rate of return realized on their investment.

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