A Treasury bill with an original maturity of six months currently sells for $972.58. The bill was issued 30 days ago. An investor who purchases this bill today would have a yield on a discount basis of __________ percent.

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The yield on a discount basis can be calculated using the formula: $$Yield = \left(\frac{Face\ Value - Purchase\ Price}{Face\ Value}\right) \times \left(\frac{360}{Days\ to\ Maturity}\right) \times 100\%$$Given that the Treasury bill was issued 30 days ago and originally had a maturity of six months (180 days), it has 150 days to maturity (180 - 30 = 150 days).Assuming the face value of the Treasury bill is $1,000 (as is standard), and it currently sells for $972.58, we can substitute these values into the formula:$$Yield = \left(\frac{1000 - 972.58}{1000}\right) \times \left(\frac{360}{150}\right) \times 100\% = 0.02742 \times 2.4 \times 100\% = 6.49\%$$Therefore, the yield on a discount basis is 6.49 percent.

A Treasury Bill with an Original Maturity of Six Months