What is bond equivalent-discount yields on the investment

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Reference no: EM131011697

Investment of $20,000 in excess short-term cash in money market investment. Prospectus quotes the instrument at a true yield of 3.15% that is the EAR for this investment is 3.15%. Treasurer wants to know the money market yield on this investment to make it comparable to the T-bills and Cds already have. Term is 90 days, what is the bond equivalent and discount yields on the investment.

Reference no: EM131011697

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