A Treasury bill that settles on May 18, 2012, pays $100,000 onAugust 21, 2012. Assuming a discount rate of 3.87 percent, what isthe price and bond equivalent yield? Use Excel to answer thisquestion. (Do not round intermediate calculations. Round youranswers to 2 decimal places. Omit the “$” & “%” signs in yourresponse.)
Price $
Bond equivalent yield %
