What is the price of the bill as a percentage of face value

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A Treasury bill purchased in December 2015 has 78 days until maturity and a bank discount yield of 1.87 percent. Assume a $100 face value.

a. What is the price of the bill as a percentage of face value? (Do not round intermediate calculations. Enter your answer as a percent rounded to 3 decimal places. Omit the "%" sign in your response.)

Price % ____________

b. What is the bond equivalent yield? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places. Omit the "%" sign in your response.)

Bond equivalent yield % ____________

Reference no: EM131528675

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