On 1st November 2019, SS has bought a treasury bill which having a face value of $1,000.

SS holds the treasury bill until the maturity date, 15th January 2020.

During this period, SS has received an interest payment of $90.

(i) Assume the bond equivalent yield of the treasury bill is 5.5%, calculate the bank discount yield.

(ii) Based on the answer of b (i) , compute the market price of the treasury bill.

(iii) Calculate SSs holding period yield.