Treasury Bill Calculator

A Treasury bill pays no coupon. It is sold below par on a bank discount basis over a 360 day year, and the difference between the price and the face value at maturity is the whole return. Enter the face value, the quoted discount rate and the days to maturity and this returns the purchase price, the dollar discount, and three annualised rates from that same bill: the quoted discount rate, the money market yield on the price, and the Treasury investment rate over a 365 day year. You can also work backwards from a price you were quoted, or gross a bill up against a taxable account, since bill interest escapes state and local tax. Nothing is fetched from a market feed, so the rate you type is the rate that gets used.