The Treasury Department auctioned $10 billion in 3-month bills in denominations of $10,000 at a discount rate of 3.000%. What

Question

The Treasury Department auctioned $10 billion in 3-month bills in denominations of $10,000 at a discount rate of 3.000%.
What would be the effective rate of interest? (Use calendar year. Do not round intermediate calculations. Round your answer to
the nearest hundredth percent.)
Effective rate of interest

Kunduz · Accepted Answer

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