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A three-month Treasury bill and a nine-month bill both sell at a discount of 11%. a-1. Calculate the annual yield of the three-month Treasury bill.

image text in transcribed A three-month Treasury bill and a nine-month bill both sell at a discount of 11%. a-1. Calculate the annual yield of the three-month Treasury bill. Note: Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places. a-2. Calculate the annual yield of the nine-month Treasury bill. Note: Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places. b. Which bill offers the higher annual yield

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