3

4

Until 1999, the Act separated commercial banking and investment banking activities. Multiple Choice Sarbanes-Oxley Glass-Steagall Dodd-Frank Wall Street Reform and Consumer Protection Volcker Rule An investor buys a T-bill at a bank discount quote of 4.35 with 120 days to maturity for 9,855.00. The bill has a face value of $10,000. The investor's bond equivalent yield on this investment is 4.41% 4.35% 4.48% 4.84%