A T-bill is a short-term loan you make to the United States government. The government needs money now, so it sells you a piece of paper (today, an electronic record) and promises to pay you back a fixed amount on a set date — usually in four weeks, three months, six months, or a year. You buy it for less than that final amount, and the difference is what you earn. So a T-bill does not pay interest along the way the way a bank account does; you make your money at the end.

A T-bill is是 you make你 to the United States government借給美國政府的 a short-term loan一筆短期借款。The government政府 needs money now現在需要錢，so it所以它 sells you賣給你 a piece of paper一張紙（today如今 an electronic record是電子紀錄），and promises並承諾 on a set date在說好的日期 pay you back還你 a fixed amount一個固定金額——usually通常 in four weeks是四週、three months三個月、six months六個月 or a year或一年後。You你 for less than that final amount用低於那個最終金額的價錢 buy it買下它，and the difference而那個差額 is what you earn就是你賺到的。So所以 a T-bill does not pay不會 the way a bank account does像銀行帳戶那樣 along the way一路配發 interest利息；you你 at the end是在最後 make your money賺到你的錢。

'T-bill' is the short, everyday name for a Treasury bill, and it is what people in finance and the news actually say. Because the US government is seen as the borrower least likely to fail, T-bills are treated as the safest place in the world to park money for a short time, and their rate is used as the 'risk-free rate' that everything else is compared to.

'T-bill' is是 a Treasury bill 的 the short, everyday name簡短日常叫法，and it is what而它正是 people in finance金融圈的人 and the news和新聞 actually say實際會說的。Because因為 the US government美國政府 is seen as被看作 least likely to fail最不可能倒的 the borrower借款人，T-bills are treated as被當成 in the world全世界 for a short time短期 park money停放資金 the safest place最安全的地方，and their rate而它們的利率 is used as被拿來當 everything else is compared to其他一切都拿來對照的 the 'risk-free rate'「無風險利率」。

This is a business-news word, not a general one. Note also that Treasury *bills* are the short ones — the longer versions are Treasury notes (T-notes, 2-10 years) and Treasury bonds (T-bonds, 20-30 years).

This這 is a business-news word是商業新聞用詞，not a general one不是一般日常詞。Note also另外注意 Treasury *bills* are是 the short ones短的那種——the longer versions更長的版本 are是 Treasury notes（T-notes，2-10 years2 到 10 年）and和 Treasury bonds（T-bonds，20-30 years20 到 30 年）。