PLEASE ANSWER BOTH QUESTIONS. I WILL DEF UPVOTE. THANK YOU SO MUCH

A 1 year Canadian T-Bill with face value $1000 has an interest rate of 4%. A 1 year U.S. T-Bill with face value $1000 has a discount rate of 5%. What is the difference in their present values (ignoring currency differences)? (a) $12.85 (b) $16.62 (c) $1.56 (d) $11.54 (e) $2.83 (3 marks) A payday loan company will charge you $18 for a one month loan of $100. If the $18 is considered interest on the loan, what is the effective annual rate of interest? (a) 18% (b) 629% (c) 144% (d) 3266% (e) 2118%