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A 3-month (91-day) UK Treasury bill with a face value of GBP 50,000,000.

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A 3-month (91-day) UK Treasury bill with a face value of GBP 50,000,000.00 is quoted at a yield of 4.25%. How much is the bill worth?

A.

GBP 47,875,000.00

B.

GBP 49,462,847.22

C.

GBP 49,470,205.48

D.

GBP 49,475,760.27

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