A 90-Day Treasury Bill Has a Bank Discount Yield of 4.2

question 53

Multiple Choice

A 90-day Treasury bill has a bank discount yield of 4.2 percent.What is the effective annual rate?

• A) 4.22 percent
• B) 4.25 percent
• C) 4.28 percent
• D) 4.32 percent
• E) 4.37 percent

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