Treasury Bill
A Treasury bill (T-bill) is a short-term U.S. government debt security issued by the U.S. Department of the Treasury. It matures at par value and is sold at a discount to its face value.
Example: In practice, an investor participates in a 26-week T-bill auction, paying less than its $10,000 par value; at maturity, the investor receives $10,000.
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