If the face value of a 91-day Treasury Bill is £100000 and it is issued at a discount of £500, what is the annual interest rate (yield) that the purchaser receives (expressed as a percentage to 2...

Extracted text: If the face value of a 91-day Treasury Bill is £100000 and it is issued at a discount of £500, what is the annual interest rate (yield) that the purchaser receives (expressed as a percentage to 2 decimal places)? Answer the question by providing the appropriate number including decimal point in the box below (e.g. 1.23). Do not enter a comma, space, letters, words or symbols (such as %). Failure to follow these instructions will result in your answer being marked as incorrect. ( Previous page Next page > University PHILIPS