A Treasury Bill Has a Face Value of $65,000,an Asked

question 31

Multiple Choice

A Treasury bill has a face value of $65,000,an asked yield of 3.05 percent,and matures in 60 days.What is the price of this bill?

• A) $64,675.74
• B) $64,777.60
• C) $64,819.80
• D) $64,868.00
• E) $64,878.42

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Definitions:

Mark-Up

A sum added to the purchasing price of products to account for overhead expenses and earnings.

Equity Method

An accounting technique used for recording investments in associate companies where the investment gives the investor significant influence over the company.

Consolidated Balance Sheet

A financial statement that presents the assets, liabilities, and shareholder equity of a parent company and its subsidiaries as one entity.

Sales Revenue

The total income received from selling goods or services before any expenses are subtracted.