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Sager Inc. just purchased a 91-day, $1 million T-bill that was selling at a discount of 3.1 percent. Assume a 360-day year.
Calculate the dollar discount. Round your answer to the nearest cent.
$______
Calculate the purchase price on this T-bill. Round your answer to the nearest cent.
$_____
Find the money market yield (MMY) on this T-bill. Round your answer to three decimal places.
____%
Find the bond equivalent yield (BEY) on this T-bill. Round your answer to three decimal places.
_____%
Rework the dollar discount from part (a) assuming the T-bill was selling at a 2.0% discount. Round your answer to the nearest cent.
$_____
Rework the purchase price from part (a) assuming the T-bill was selling at a 2.0% discount. Round your answer to the nearest cent.
$_______
Rework the money market yield (MMY) from part (b) assuming the T-bill was selling at a 2.0% discount. Round your answer to three decimal places.
______%
Rework the bond equivalent yield (BEY) from part (c) assuming the T-bill was selling at a 2.0% discount. Round your answer to three decimal places.
_________%