QUESTIONS 19 THROUGH 32 RELATE TO QUANTITATIVE METHODS

23. A 270-day U.S. Treasury bill with a face value of $100,000 sells for $96,500

when issued. Assuming an investor holds the bill to maturity, the investor’s

money market yield is closest to:

A. 3.63%.

B. 4.84%.

C. 4.93%.

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