15) A Treasury bill with 36 days to maturity, a face value of $100,000, and selling for $99,000 would be quoted at what on a bank discount basis?

A) 8.50%

B) 5.00%

C) 7.00%

D) 10.00%

16) For a 100-day Treasury bill with a face value of $100,000, if the yield on a bank discount basis is quoted as 5.00%, what is the price?

A) $99,112

B) $98,611

C) $99,500

D) None of these