What is the least you could pay to acquire a bill

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A Treasury bill has a bid yield of 1.97 and an ask yield of 1.93. The bill matures in 123 days. Assume a face value of $1,000.

What is the least you could pay to acquire a bill? (Note: You may need to review material from an earlier chapter for the relevant formula.) (Do not round intermediate calculations. Round your answer to 3 decimal places.)

Reference no: EM132505897

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