Question Three (A) The results of Tender 1065 herd on 2nd tvfay2008 for Government of Ghana Securities show the rates for 91 Day and 182 Day Treasury Bills as follows: TREASURY BILLS AND NOTES Range...

Extracted text: Question Three (A) The results of Tender 1065 herd on 2nd tvfay2008 for Government of Ghana Securities show the rates for 91 Day and 182 Day Treasury Bills as follows: TREASURY BILLS AND NOTES Range of Bid Rates (% P.A) Securities Bid Rates Allotted in Full (% P.A) Discount Rates Interest Rates 91 Day Bill 182 Day Bill 1 Year Note 2 Year Fixed Rate Note 3 Year Fixed Rate Note 10.79 - 13.00 10.79 - 12.80 ?-? 11.00 - 12.70 11.00 - 12.70 ?-? 12.00 - 14.00 13.00 - 14.00 14.00 - 16.50 12.00 - 14.00 13.00 - 14.00 14.00 - 16.50 Source: The Ghanaian Times, Monday May 5, 2008 Using the Discount Rates provided for the 91 Day Bill and 182 Day Bill, calculate their Interest Equivalent Rates indicated in the table with Question Marks (?). ΝΟΤΕ: DO NOT DRAW THE TABLΕ