(7) Jie purchased two U.S. Treasury bills on the same day. The first one will mature in 13 weeks for $12,000, with quoted rate of 1.93%. The other one will mature in 26 weeks for $16,000 and has a quoted rate of 2.35%. What is Jie's annual effective yield for the 26-week period, assuming that there are 365 days in a year? (8) Louie borrowed $2,000 from Phil. Under this agreement, Louie would repay with $1,200 at t = 1 and $1,700 at t = 4 where time is given in years. Louie successfully made the payment in full at t = 1, but he faced some financial difficulty and was only able to pay 60% of what he owed at the time of the second payment. What was the annual interest rate for the original loan? What is Phil's annual yield for this four-year period? (7) Jie purchased two U.S. Treasury bills on the same day. The first one will mature in 13 weeks for $12,000, with quoted rate of 1.93%. The other one will mature in 26 weeks for $16,000 and has a quoted rate of 2.35%. What is Jie's annual effective yield for the 26-week period, assuming that there are 365 days in a year? (8) Louie borrowed $2,000 from Phil. Under this agreement, Louie would repay with $1,200 at t = 1 and $1,700 at t = 4 where time is given in years. Louie successfully made the payment in full at t = 1, but he faced some financial difficulty and was only able to pay 60% of what he owed at the time of the second payment. What was the annual interest rate for the original loan? What is Phil's annual yield for this four-year period