Worksheet T3.b.5

[wrongsaidfred]

Hi David,

I am really confused as to what is going on in the T bill discount rate worksheet. At one point it says 8.997<<8 is 8%. Not quite sure what this is getting at.

Then it uses a hard coded P to solve for Y and then uses that to solve back for P.

Also, what is the "true yield"? Is this something we can compare to a TYM?

Thanks,
Mike