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What amount will lenny pay for the t-note

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Question - Lenny, who is an active trader, buys a Treasury note with the following characteristics: Face Value: $1,000, Maturity: 90 days. Yield: 3.57% per annum. After holding the Treasury note for 60 days, Lenny sells it to another trader for $996.

Required -

a) What amount will Lenny pay for the T-note?

b) What is the annual rate of return (HPY, Holding Period Yield) for Lenny?

c) What is the current Yield to Maturity (YTM) for this security?

Reference no: EM133071731

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