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Bidder 2 3 4 5 Table 1 Bid Amount S150 S750 Sl,500 Sl,ooo S650 Price so.9960 so.9940 so.9970 so.9939 so.9950 8. Use Table l. The Treasury auctions...

This question was created from Quiz_3_FIN_353_Version_A_Spring_2012_ANSWERS


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Table 1 Bidder Bid Amount Price
1 $150 $09960
2 $750 $09940
3 $1,500 $0.99?0
4 $1,000 $09939
5 $650 $0.9950 8. Use Table 1. The Treasury auctions off $3,000 worth of Treasury bills. The Treasury receives $800 non—
competitive bids. What is the prevailing price in the auction? A. $09960 B. $03940 C. $0.993”) D. $09939 E. $03950

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