CHAPTER 1
b. long-term debt instruments with maturities of 3 to 12 months. c. short-term debt instruments with maturities of 3 to 12 months. d. short-term debt instruments with maturities of 6 to 24 months. ANSWER: c . 40. Treasury bills (T-bills) pay. a. a fixed amount at maturity and no explicit interest payments; T-bills sell at a discount. ................
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