22. A $10,000 UST one-year note sold at 2.5% discount would sell for what price: ____________________________

23. A $10,000 UST one-year note sold at 2.5% discount would provide what effective yield: ____________________

24. A $10,000 three-month UST bill sold at 2.5% would provide what annualized effective yield: ______________________

25. Which instrument in the Money market is the largest portion of the pie? _____________________________

26. Explain in brief how technology has impacted the trading of securities in the open markets: ________________________________

27. What is meant by the Separation Theory in Finance: ________________________________________________________________________________

28. The nominal interest rate is comprised of four factors: real rate, the expected inflation premium, maturity premium, and _______________________________________.

29. When calculations reflect interest earned on previously earned interest, we are speaking about simple interest or compound interest? _________________

30. Increases in the Supply of funds holding the Demand for funds steady should lead to what change in the level of interest rates? __________________________