Suppose that a 30-day US Treasury bill (T-bill) with a face value of $10 million...
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Finance
Suppose that a 30-day US Treasury bill (T-bill) with a face value of $10 million is quoted at a discount rate of 5% for an assumed 360-day year. How much I have to pay for this T-bill? What is the AOR (bond equivalent rate) of this bill based on a 365-day year?
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