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Face value and the price of a bill maturing

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Assume a $1 million Treasury Bill futures contract with an index price of 98.20 (and a yield on a bank discount basis of 1.80%), the dollar discount for the 13-week Treasury bill to be delivered with 91 days to maturity. Calculate the D = Dollar discount, which is equal to the difference between the face value and the price of a bill maturing in t days.

Reference no: EM132694459

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