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A T-Bills instrument has the following terms: Face value (par) $1,000.00 Term 01 July 2022 - 01 November 2022 If Mr. Pelita buys the T-Bills:

A T-Bills instrument has the following terms: Face value (par) $1,000.00 Term 01 July 2022 - 01 November 2022 If Mr. Pelita buys the T-Bills: Purchase date 26 July 2022 Purchase value $965.00 Calculate (in percent with 2 decimal places): a. Annual yield (annual yield) b. Effective rate of return per year c. Explain what is meant by T-Bills, the following characteristics

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