TR Bank is planning to purchase a T-bill with a $100,000 face value. The T-bill is quoted at a bank discount of 2.1% and has 220 days to maturity. What is the T-bill's effective annual yield (EAY)?

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The Answer of TR Bank is planning to purchase a T-bill with a $100,000 face value. The T-bill is quoted at a bank discount of 2.1% and has 220 days to maturity. What is the T-bill's effective annual yield (EAY)?

TR Bank Is Planning to Purchase a T-Bill with a $100,000