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FIN4063 UTulsa Financial Institutions And Markets Chapter 11 Homework
- What are the annualized discount rate and your annualized investment rate on a Treasury bill that you purchase for $9,940 that will mature in 91 days for $10,000?
- If you want to earn an annualized discount rate of 3.5%, what is the most you can pay for a 91-day Treasury bill that pays $5,000 at maturity?
- The price of 182-day commercial paper is $7,840. If the annualized investment rate is 4.093%, what will the paper pay at maturity?
- The annualized yield is 3% for 91-day commercial paper and 3.5% for 182-day commercial paper. What is the expected 91-day commercial paper rate 91 days from now?
- In a Treasury auction of $2.1 billion par value 91-day T-bills, the following bids were submitted:
- If the Treasury also received $750 million in non- competitive bids, who will receive T-bills, in what quantity, and at what price? (Refer to the table in problem 5.)
- Up-to-date interest rates are available from the Federal Reserve at http://www.federalreserve.gov/ releases. Locate the current rate on the following securities:
- Prime rate
- Federal funds
- Commercial paper (financial)
- Certificates of deposit
- Discount rate
- One-month Eurodollar deposits
|
Bidder |
Bid Amount ($ million) |
Price per $100 |
|
1 |
600 |
99.4 |
|
2 |
750 |
99.01 |
|
3 |
1 |
99.25 |
|
4 |
1.5 |
99.36 |
|
5 |
500 |
99.39 |
If only these competitive bids are received, who will receive T-bills, in what quantity, and at what price?
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