Suppose you buy 91-day Treasury bill with a par value of $1,000 for 98.125 at the time of the issue.After owning the Treasury bill for 23 days,you sell it.The bond equivalent yield you earned is 6.57%.What price did you receive for the T-bill?
A) $986.31
B) $985.31
C) $856.31
D) $1,000
E) None of the above
Correct Answer:
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