A Bill with 90 Days to Maturity Initially Has a Yield

Question 20
Multiple Choice

A bill with 90 days to maturity initially has a yield of 8% p.a.and a face value of $100 000.This bill is held for 45 days and sold as a 45-day bill at a yield of 6%.What is the continuously compounding holding period rate of returns over the 45 days? img