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Federal funds Quotes as of 0 9 / 2 0 / 2 0 1 6 table [ [ , , ] , [ ,

Federal funds Quotes as of 09/20/2016
\table[[,,],[,Latest,\table[[Week],[ago]],HeEK,],[Effective rate (%),0.43,0.43,0.45,Low],[Target rate (%),0.25-0.50,0.25-0.50,0.25-0.50,0.06],[High (%),0.5625,0.5625,0.7500,0.3100],[Low (%),0.3000,0.3000,0.4000,0.0200]]
Consider a 7 day loan made in September 20,2016 at the effective fed funds rate indicated in the table above. Bank A borrowed $2,000,000(fed funds purchased). Bank B lent $2,000,000(fed funds sold).
a. How much did Bank A pay Bank B at end of week? (round up to 2 decimal places)
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b. What were the bond-equivalent yield and EAR of this Fed Funds loan? (yields should be in % and rounded up to 4 decimal places)
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