Can someone help me with this problem?
Current government treasury bills (i.e., short-term bonds) are priced at 96.8% of par, which is $1,000. These bonds mature 3 months from today and do not pay a coupon.
What is the yield to maturity on these bonds?
This is what I am entering.
PV=1000*96.8%=968
FV=1000
N=3 Not sure if this is right
PMT=0
Solve I=10.90% which isn't correct.