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a-1. Determine the effective annual yield of a three-month bill selling at $9,781. (Do not round intermediate calculations. Round your answer to 2 decimal places.)

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a-1. Determine the effective annual yield of a three-month bill selling at $9,781. (Do not round intermediate calculations. Round your answer to 2 decimal places.) Effective annual yield % a-2. Determine the effective annual yield of a six-month bill selling at $9,569. (Do not round intermediate calculations. Round your answer to 2 decimal places.) Effective annual yield % a-3. Which security offers a higher effective annual yield? Three-month bill Six-month bill b. Calculate the bank discount yield on each bill. Assume it as a U.S. treasury bill. (Do not round intermediate calculations. Round your answers to 2 decimal places.) Discount Yield Three-month bill Six-month bill %

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