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ikrabbe ikrabbe
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6 years ago
An investment dealer bought a 182-day Government of Canada treasury bill at the price required to yield an annual rate of return of 3.38%
a) What was the price paid by the investment dealer if the T-bill has a face value of $1 000 000?
b) Later the same day, the investment dealer sold this T-bill to a large corporation to yield 3.25%. What was the investment dealer's profit on this transaction?
Textbook 
Contemporary Business Mathematics with Canadian Applications

Contemporary Business Mathematics with Canadian Applications


Edition: 11th
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#1
6 years ago
a) The investment dealer paid $983 425.64 for the T-Bill.
b) $627.31.
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