Exercise on Calculating Treasury Bill Prices and Yields

  1. In the table below, find the first 91 day Treasury bill with a price issue date 12/05/96, compute the the bill's price and fill in the blank.
  2. In the table below, find the 14 day Treasury bill with a price issue date of 12/03/96, compute the bill's discount yield and fill in the blank.
  3. In the table below, find the 34 day Treasury bill with a price issue date of 11/15/96, compute the bill's price and fill in the blank.
  4. In the table below, find the 48 day Treasury bill with a price issue date of 11/01/96, compute the bill's discount yield and fill in the blank.
  5. In the table below, find the 182 day Treasury bill with a price issue date of 10/10/96, compute the bill's price and fill in the blank.
  6. Using the same format fill in the remaining blanks in the table.

Treasury Bill Auction Results

               
  Average    Price Issue    Maturity     Discount       Per
  Term          Date         Date         Rate         $100

364 days      12/12/96     12/11/97       5.16%       94.783
 91 days      12/05/96     03/06/97       4.98%       ______
182 days      12/05/96     06/05/97       5.04%       97.452
 14 days      12/03/96     12/17/96       _____       99.799
 90 days      11/29/96     02/27/97       5.03%       98.743
181 days      11/29/96     05/29/97       5.07%       97.451
 91 days      11/21/96     02/20/97       5.03%       98.729
182 days      11/21/96     05/22/97       5.07%       97.437
 34 days      11/15/96     12/19/96       5.20%       ______
 91 days      11/14/96     02/13/97       5.02%       98.731
182 days      11/14/96     05/15/97       5.07%       97.437
364 days      11/14/96     11/13/97       5.20%       94.742
 91 days      11/07/96     02/06/97       5.04%       98.726
182 days      11/07/96     05/08/97       5.08%       97.432
 48 days      11/01/96     12/19/96       _____       99.311
 91 days      10/31/96     01/30/97       5.04%       98.726
182 days      10/31/96     05/01/97       5.15%       97.396
 91 days      10/24/96     01/23/97       5.01%       98.734
182 days      10/24/96     04/24/97       5.12%       97.412
 91 days      10/17/96     01/16/97       5.01%       98.734
182 days      10/17/96     04/17/97       5.11%       97.417
364 days      10/17/96     10/16/97       5.34%       94.601
 91 days      10/10/96     01/09/97       4.96%       98.746
182 days      10/10/96     04/10/97       5.07%       ______
 91 days      10/03/96     01/02/97       5.01%       98.734
182 days      10/03/96     04/03/97       5.17%       97.386
 91 days      09/26/96     12/26/96       5.18%       98.691
182 days      09/26/96     03/27/97       5.30%       97.321
 91 days      09/19/96     12/19/96       5.07%       98.718
182 days      09/19/96     03/20/97       _____       97.376
364 days      09/19/96     09/18/97       5.57%       94.368
 91 days      09/12/96     12/12/96       5.17%       98.693
182 days      09/12/96     03/13/97       5.30%       97.321
 91 days      09/05/96     12/05/96       5.19%       98.688
182 days      09/05/96     03/06/97       5.38%       97.280
 14 days      09/03/96     09/17/96       5.24%       99.796
 92 days      08/29/96     11/29/96       5.07%       98.704
182 days      08/29/96     02/27/97       _____       97.391
 91 days      08/22/96     11/21/96       5.06%       98.721
182 days      08/22/96     02/20/97       5.13%       97.407
364 days      08/22/96     08/21/97       5.36%       ______
 91 days      08/15/96     11/14/96       5.04%       98.726
182 days      08/15/96     02/13/97       5.08%       97.432
 91 days      08/08/96     11/07/96       5.08%       98.716
Source: United States Department of Treasury