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Memphic Memphic
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6 years ago
A three-month treasury bill sold for a price of $99.311998 per $100 face value. The yield to maturity of this bond expressed as an EAR is closest to:
A) 2.5%
B) 2.8%
C) 3.2%
D) 4.0%
Textbook 
Corporate Finance: The Core

Corporate Finance: The Core


Edition: 4th
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wrote...
6 years ago
B
Explanation:  B) EAR =   - 1 = 0.028
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