1. A Treasury bill with 31 days to maturity would cost the buyer $99,589 for a face value of $100,000. What is the discount yield (to 3 decimal places) of this T-bill?

2. What is the price of a 4-year, annual-pay bond with a coupon of 4.00%, given spot (zero) rates as follows: 1.200% for 1 year 2.600% for 2 years 2.900% for 3 years 3.000% for 4 years. Also what is the yield to maturity of this bond?