20. Compute the annual interest rate or rate of return that you will earn on the following investments:

a. A U.S. Treasury bill that has a current price of $930 and will pay $1,000 at maturity one year from now.

b. A U.S. Treasury bill that has a current price of $950 and will pay $1,000 at maturity six months from now.

c. A U.S. Treasury note selling at its maturity value ($1,000), paying 9% coupon interest per year, and maturing in 5 years.

d. An acre of a vacation property with a current price of $5,000 that you expect to be able to sell for $6475 in 3 years.

e. A preferred stock with a current price of $90 paying $10.80 dividends per share per year forever.