Calculate the simple rate of return on a $1,000,000 181-day Treasury Bill that was issued for $970,639.

A) 6.1%
B) 5.9%
C) 4.9%
D) 5.5%
E) 7.7%

Treasury Bill

A short-term government security issued at a discount from the face value and maturing at full face value, offering investors a secure, short-term investment option.

Simple Rate of Return

A measure of the gain or loss on an investment over a specific period, expressed as a percentage of the investment's initial cost.

Issued

Refers to the process of making something available or distributing it, commonly used in the context of financial instruments like stocks or bonds.