What price will the non-competitive bidders pay

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Question: During a Treasury Bill auction, the Treasury Department needs to sell $900 Million in new T-Bills with a maturity of 90 days. From the primary dealers, they have already received non-competitive bids for $350 million. What is the lowest accepted price for the competitive bidders? what price will the non-competitive bidders pay?

Bidder Number Dollar Amount Wanted Bid Price

1 $200 million 99.10

2 $250 million 99.56

3 $100 million 99.75

4 $100 million 98.95

5 $50 million 99.81

6 $150 million 99.65

7 $50 million 99.41

8 $100 million 99.34

9 $150 million 98.99

Reference no: EM131795305

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