The money‐market yield for a T‐bill with a face value of $1,000 that is currently priced at $970 and has 110 days remaining until maturity is closest to:

A 10.12%.

explanation

HPY = [(1,000 − 970) / 970] x 100 = 3.093%
Money market yield = HPY x 360/t = 3.093% x 360/110 = 10.12%

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