Calculate the effective annual interest rate for the following:

Required:

a$.$ A $3-$month T$-$bill selling at $$98,490$ with par value $$100,000.$

b$.$ A $7\%$ coupon bond selling at par and paying coupons semiannually.

Complete this question by entering your answers in the tabs below.

Required A

Required B

A $3-$month T$-$bill selling at $$98,490$ with par value $$100,000.$

Note: Round your answer to $2$ decimal places.

$\backslash$table$[[$Effective annual rate,$6\mathrm{.}28,\%$

HOW DO YOU FIND THE $(100,000/98490)^4$ I DONT UNDERSTAND THE $^4$ how do you get that if it says semiannually. Please explain