Calculate the price of a $50,000, 91-day Province of Nova Scotia Treasury bill on its issue date if the current market rate of return is 4.273% simple interest.

Treasury Bill

A short-term government security issued at a discount from the face value and yielding the face value upon maturity.

Market Rate

The prevailing interest rate available in the marketplace for securities or loans, dictated by supply and demand forces.

Simple Interest

Interest earned or paid only on the original principal amount invested or loaned.