What is the effective rate for 6-month bills

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Reference no: EM13262382

Assume that 3-month treasury bills totalling $12 billion were sold in $10,000 denominations at a discount rate of 3.605%. In addition, the treasury department sold 6-month bills totaling $10 billion at a discount rate of 3.55%. (a) What is the discount amount for 3-month bills? (b) What is the discount amount for 6-month bills? (c) What is the effective rate for 3-month bills? (d) What is the effective rate for 6-month bills?

Reference no: EM13262382

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