The following is an FI's balance sheet ($millions) .
Notes to Balance Sheet.
Munis are 2-year 6 percent annual coupon municipal notes selling at par. Loans are floating rates, repriced quarterly. Spot discount yields for 91-day Treasury bills are 3.75 percent. CDs are 1-year pure discount certificates of deposit paying 4.75 percent.
-What is the duration of the municipal notes (the value of x) ?
Definitions:
Five-Part Reading System
A structured approach to reading that includes preparation, reading, note-taking, questioning, and summarizing to improve comprehension and retention.
SQ3R Reading System
A systematic approach to reading that involves Survey, Question, Read, Recite, and Review to improve comprehension and retention.
Anxiety
A feeling of worry, nervousness, or unease, typically about an imminent event or something with an uncertain outcome.
Retention
Refers to the ability to keep or maintain something, such as knowledge, information, or employees within a company.
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