If you are buying or selling a US Treasury Bill, you can use this online converter to calculate the price for a $100 face value from a given discount rate. Other performance measures are also provided, including interest income at maturity.

Buying/selling price and other information calculated by FYIcenter.com:

Unit price: $98.7650 for $100.00 face value.

Security Details:
  Security type: US Treasury Bill
  Unit price: $98.7650 for $100.00 face value
  Accrued interest: $0.00 for $1,000.00 face value.
  Totoal price: $987.6500 for $1,000.00 face value
  Discount rate: 2.3450%
  BEY (Bond Equivalent Yield): 1.2500%
  YTM (Yield To Maturity): 1.2539%.
  Maturity date: 2026-07-14
  Days/months/years/weeks left: 364/11.97/1.00/52.00

Income Information:
  Interest income for 2026: $12.35
  Capital gain income for 2026: $0.00
  Total income: $12.35

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Sensibility Tests: 
  Dis. Rate    Chg Val |      Price   Chg Rate
  ---------  --------- |  ---------  ---------
    2.3450%   baseline |   $98.7650   baseline
    2.4450%     0.1000 |   $98.7650    0.0000%
    3.3450%     1.0000 |   $98.7650    0.0000%

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Related Conversion Tools:
  Discount Rate to Price Converter for T-Bills
  Price to Discount Rate Converter for T-Bills
  BEY (Bond Equivalent Yield) to Price Converter for T-Bills
  Price to BEY (Bond Equivalent Yield) Converter for T-Bills
  BEY to Discount Rate Converter for T-Bills
  Discount Rate to BEY Converter for T-Bills
  YTM (Yield To Maturity) to Price Converter for T-Bills
  Price to YTM (Yield To Maturity) Converter for T-Bills
  YTM to Discount Rate Converter for T-Bills
  Discount Rate to YTM Converter for T-Bills
  YTM to BEY (Bond Equivalent Yield) Converter for T-Bills
  BEY (Bond Equivalent Yield) to YTM Converter for T-Bills

The following formula is used in the above calculations:

$d={\displaystyle \frac{\mathrm{Year}}{\mathrm{Days}}}\times {\displaystyle \frac{(F-P)}{F}}$
$P=\text{Purchase price}$
$F=\text{Face value}$
$d=\text{Discount Rate}$
$\mathrm{Days}=\text{Number of days to maturity}$
$\mathrm{Year}=360=\text{Constant number of days in a year}$

As you can see from the above formula, the discount rate represents the annualized rate of the discount you get off the face value when you purchase a T-Bill.

For more information, see the following tutorial:

• Discount Rate of US Treasury Bill

⇒ Price to Discount Rate Converter for T-Bills

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