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A six-month Treasury bill and a nine-month bill both sell at a discount of 12%. a-1. Calculate the annual yield of the six-month Treasury bill.

A six-month Treasury bill and a nine-month bill both sell at a discount of 12%.

a-1. Calculate the annual yield of the six-month Treasury bill. (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.)

Annual yield = %

a-2. Calculate the annual yield of the nine-month Treasury bill. (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.)

Annual yield= %

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