The treasury department auctioned 19 billion in 3-month, Financial Management

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The treasury department auctioned 19 billion in 3-month

The Treasury Department auctioned $19 billion in 3-month bills in denominations of $10,000 at a discount rate of 4.350%.

What would be the effective rate of interest? (Use calendar year. Do not round intermediate calculations. Round your answer to the nearest hundredth percent.)

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Financial Management: The treasury department auctioned 19 billion in 3-month

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Financial Management: The treasury department auctioned 19 billion in 3-month

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