Answer:
market price = $9,433.96
Explanation:
a T-bill is basically a zero coupon bond, and the formula we can use to calculate its market price is:
market price = face value / (1 + i)ⁿ
- face value (value at maturity) = $10,000
- i = 6%
- n = 1
market price = $10,000 / (1 + 6%) = $10,000 / 1.06 = $9,433.96
