A Treasury bill has a bank discount yield of 6.81% based on the ask price...
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Accounting
A Treasury bill has a bank discount yield of 6.81% based on the ask price and 6.90% based on the bid price. The maturity of the bill (already accounting for skip-day settlement) is 60 days.
- Find the bid and ask prices of the bill.
- Find the bond equivalent yield based on the ask price (assume 365 days in a year).
- Find the effective annual yield based on the ask price.
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