Suppose You Buy a 30-Day T-Bill with a Face Value

question 30

Multiple Choice

Suppose you buy a 30-day T-bill with a face value of $1,000 at a price of $990. Your investment return yield (IRY) would be

• A)12.00%.
• B)12.17%.
• C)12.50%.
• D)13.00%.

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Definitions:

Express Warranty

A guarantee explicitly stated by a seller about the quality, functionality, or condition of a product.

Warranty Of Merchantability

A guarantee implied by law that goods sold will be fit for their ordinary purpose.

Disclaimer

A statement that denies something, especially responsibility, or a statement that specifies limits to a particular area of knowledge or information provided.

Warranty Of Merchantability

assures that a product sold by a merchant is fit for the general purpose for which it is sold, meeting a buyer's reasonable expectations.