These bonds mature 3 months from today and do not pay a


Can someone help me with this problem?

Current government treasury bills (i.e., short-term bonds) are priced at 96.8% of par, which is $1,000. These bonds mature 3 months from today and do not pay a coupon.

What is the yield to maturity on these bonds?

This is what I am entering.

PV=1000*96.8%=968

FV=1000

N=3 Not sure if this is right

PMT=0

Solve I=10.90% which isn't correct.

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Dissertation: These bonds mature 3 months from today and do not pay a
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