ANS: 2. One year ago you invested $32,000. You purchased stocks, bonds and treasury bills with your $32,000. You put 25% of the $32,000 into stocks that lost 4% last year, The rest of your money you split evenly between bonds and treasury bills. Overall you earned 6% during the past year on your $32,000 investment. If you carned 12% on the bonds, what rate of interest did you earn on the treasury bills? [4 marks)