Waiting for answer This question has not been answered yet. You can hire a professional tutor to get the answer.
QUESTION
The Treasury Department auctioned $23 billion in 3-month bills in denominations of $10,000 at a discount rate of 4.800%. What would be the effective
The Treasury Department auctioned $23 billion in 3-month bills in denominations of $10,000 at a discount rate of 4.800%.
What would be the effective rate of interest? (Use calendar year. Do not round intermediate calculations. Round your answer to the nearest hundredth percent.)
Effective rate of interest _______ %
