Imagine an economy much like our own. The budget deficit in this economy for 2006 was 200 billion. The national debt was 9 trillion at the end of 2005. The average maturity of that debt was five years.
suppose treasury bonds mature on the first day of the month and that the value of the bonds maturing is approximately the same each month. to the nearest .1 trillion what was the values of bond sold each month by the treasury department to refinance the debt in 2006?