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QUESTION
If the bid and asked quotes of a Treasury bill with 234 days to maturity are 4.94 and 4.935, respectively. There are 365 calendar days in that year.
If the bid and asked quotes of a Treasury bill with 234 days to maturity are 4.94 and 4.935, respectively. There are 365 calendar days in that year. An investor buying the bill with a face value of $100,000 and holding it to maturity would earn an effective annual rate of return of ???
%. (Note: answer must be accurate to 2 decimal places.)
Explain the answer
