The U. S government borrows money by selling Treasury bills. Treasury bills are discounted notes issued by the U. S government. On May 5, 2007, Kris Greenhalgh purchased a 182-day $1000 Treasury bill at a 4.34% discount. On the date of maturity, Kris will receive $1000. A) What is the date of the maturity in the Treasury bill?
B) How much did Kris actually pay for the Treasury bill?
C) How much interest did the U. S government pay on the date of maturity?
D) What is the actual rate of interest of the Treasury bill?