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What was the original annual interest rate or yield

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An investor purchased a $100,000, 364-day T-bill at a yield of 2.14% p.a. Answer the following questions, and choose the closest answer from the possible choices following each question:

Question 1: Evaluate the statement: The price of a T-bill can be greater than or equal to the maturity value of the T-bill. (Answer Yes or No)

Question 2: If the investor paid $99,637.81 for the T-bill, how many days before maturity did the investor buy it?

Question 3: What was the original annual interest rate or yield of the T-bill on its issue date if the T-bill price was $98,800.10? (Express in percentage with four decimal places i.e., .0001%)

Reference no: EM132603927

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