Q:6 You pay \( \$ 9850 \) for a 91 -day T-bill. It is worth \( \$ 10,000 \) at maturity. What is its annualized yield?
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To find the annualized yield of the T-bill, you can use the formula: \[ \text{Annualized Yield} = \left( \frac{\text{Face Value} - \text{Purchase Price}}{\text{Purchase Price}} \right) \times \left( \frac{365}{\text{Days to Maturity}} \right) \] Plugging in the values: \[ \text{Annualized Yield} = \left( \frac{10,000 - 9,850}{9,850} \right) \times \left( \frac{365}{91} \right) \approx 0.0581 \times 4.01099 \approx 0.2330 \text{ or } 23.30\% \] So, the annualized yield is approximately 23.30%.
