Hello im feeling really stupid right now cause i cant seem to figure out how to arrange this formula its r=100-p/px365/d i have to find p dont know how to get it alone
$\displaystyle r=\frac{365(100-p)}{pd}$
First multiply both sides by pd: $\displaystyle prd = 365(100-p)$
Expand the right side: $\displaystyle prd = 36500 - 365p$
Move all p's to the same side and everything else on the opposite side: $\displaystyle prd + 365p = 36500$
Take p as common factor: $\displaystyle p(rd + 365) = 36500$
Divide both sides by (rd+365) and we're done.
Sorry to bug again but its not working ......... tear i keep getting a different number then what im suppose to get do you think we could work on the problem together ?? if yes ill give it to you right now if not thanks for all your help !!
A 91day treasury bill with a face value of 1 000 000 is sold to yield 5.35% at what price did the t bill sell if the yield was quoted by the market ??
there for .0535=100-p/p x 365/91 the answer in the book is 98.68372139