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What is the eay for the sixty-day t-bill

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Reference no: EM132931206

You have $ 1,000,000 to invest for the next 60 days and you are looking at 2 different scenarios:

Scenario 1 A 60 day T-Bill with a quoted yield ( banker's discount ) of 4.65%

Scenario 2 A 90 day Certificate Deposit issued 30 days ago. It bears a coupon of 5.0% and is currently quoted at 4.95%

Problem 1: What is the EAY for the 60-day t-Bill, and the 90-day CD issued 30 days ago?

Reference no: EM132931206

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