1-

What is the discount yield, bond equivalent yield, and effective annual return on a $1 million T-bill that currently sells at 96.375 percent of its face value and is 75 days from maturity? (Use 360 days for discount yield and 365 days in a year for bond equivalent yield and effective annual return. Do not round intermediate calculations. Round your answers to 3 decimal places. (e.g., 32.161))

Discount yield		%
Bond equivalent yield		%
Effective annual return		%

2- Calculate the bond equivalent yield and effective annual return on fed funds that are 25 days from maturity and have a quoted yield of 0.21 percent. (Use 365 days in a year. Do not round intermediate calculations. Round your answers to 4 decimal places. (e.g., 32.1616))

Bond equivalent yield		%
Effective annual return		%