(i) An existing discount security, with a face value of $750 000 and with 60 days to maturity, was purchased at a yield of 8.15 per cent per annum. After 21 days it is sold at a yield of 8.50 per cent per annum. What is the rate of return earned over the 21-day holding period?

(ii) The new holder of the security in (i) above sells it into the money market after 7 days at the current yield of 7.90 per cent per annum.

What is the holding period yield received by the seller?