#13 The following are the bid/ask discount yields of a 9-month T-Bill: Bid A: Buy Time 4.00% B: Sell Time (2 months later) 3.50% Ask 3.80% 3.35% P = Fx (1- discount x mat. days/360) (a) Assuming you buy a T-Bill at point A, what is your buy price (Pb)? (b) Assuming you sell this T-Bill at point B (2 months later), what is your sell price (Ps)? (c) From (a) and (b), what is your annualized return of this transaction? R%=(Ps-Pb)/Pb x 100% x (365/no. of days held) #15 Define and contrast between "competitive bid" and "noncompetitive bid." #16 Identify any 3 regular investors in Treasury Bills. #17 (a) What is a "Commercial Paper Yield Curve?" How does it compare to the T-Bond yield curve? (b) How has Commercial Paper rate moved since 2008?