Ask Terry Questions T bill purchase — is interest correct?

T bill purchase — is interest correct?

By Terry Savage on October 16, 2022 | Chicken Money

Enjoyed your October 2nd column.
I purchased a 26 week 10k t-bill but only 9,796.26 was withdrawn from checking account. If that’s interest, it’s only ~2%.
Will there be more interest? What give?
The purchase was 10/12.
Thank you

Terry Says

Divide by 2! that was the interest for 6 months!! When you “roll them” over at the time of maturity in 6 months, you’ll get interest at whatever the going rate is for the next 6 months!

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