Ned used $98,303.259 to purchase a 180-day $100,000 bank bill on 1 May 2022. He sold this bank bill on 21 August 2022 at a yield rate of 4.77% p.a. (simple interest rate).

1. Calculate Neds purchase yield rate of this bank bill (simple interest rate p.a.). Express your answer as a percentage and rounded to two decimal places. Select the correct answer.

a. 3.50%

b. 3.52%

c. 4.77%

d. 5.62%

2. Calculate Neds sale price on 21 August 2022 (rounded to three decimal places). Select the correct answer.

a. $97,701.734

b. $98,697.277

c. $99,119.170

d. $99,157.703