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What is the price of the bill use 360 days a year do not

A T-bill with face value $10,000 and 92 days to maturity is selling at a bank discount ask yield of 3.9%.

a. What is the price of the bill?

(Use 360 days a year. Do not round intermediate calculations. Round your answer to 2 decimal places.)

Price of the bill =$ 9900.33

b. What is its bond equivalent yield?

(Use 365 days a year. Do not round intermediate calculations. Round your answer to 2 decimal places.)

Bond equivalent yield 3.99 %

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Finance Basics: What is the price of the bill use 360 days a year do not

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