On June 23, 2011, the U.S. Treasury issued three T-Bills, and they had issued a 1-year T-Bill on June 2, 2011:

a. Calculate the bank discount rate for each security using the formulas given in the chapter and using the DISC function.
b. Calculate the bond equivalent yield for each security using the formulas given in the chapter and using the YIELDDISC function.
c. Go to www.treasurydirect.gov/RI/OFBills and find the results of the most recent T-Bill auction. Repeat parts a and b.

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, nag· 34衂.)Inas. 28-Day 6/23/201 6/23/20 6/23/2011 6/02/2011 7/21/2011 9/22/2011 12/22/2011 5/31/2012 Issue Date Maturity Date Face Value per $100 Price per $100 100 100 100 100 9.999611 99.991153 99.949444 99.818000