An investor has just purchased a Treasury bill for $99400. If the security matures in 40 days and has a holding period yield of 0.604 percent, what is its money market yield?（ ）
The money market yield is the annualized yield on the basis of a 360-day year and does not take into account the effect of compounding. The money market yield=(holding period yield)×(360/number of days until maturity)=(0.604%)×(360/40)=5.436%.