Question $13$

Which of these statements is true for a given treasury bill?

The bank discount yield $>$ the effective annual vield $>$ the bond equivalent yield

The bank discount yield $>$ the bond equivalent yield $>$ the effective annual yield

The bank discount yield $>$ the bond equivalent yield $>$ the effective annual yield on leap years

D$.$ The bank discount yield and the bond equivalent yield are both less than the effective annual yield