a$)$ You buy a lump sum note $($bill of exchange$).$ The nominal value is $10$ million. ISK and the maturity date is $15$ years from now. The interest rate at which you buy the bill is $3\mathrm{.}1\%.$ How much do you pay for the bill?

b$)$ If you sell the bill after $2$ years at a yield of $8\mathrm{.}9\%,$ what annual nominal return have you achieved in these $2$ years?

c$)$ If the consumption index went from $578$ to $625$ during the two years you had the bill, what is your annual real return?