The term 'discount security' in relation to a bank bill means:

Select one:

a.

when the bank bill is issued, it is less than the principal amount to be repaid at maturity.

b.

the interest on a bank bill is less than other money market securities.

c.

when the principal is repaid to the lender, they receive less than other money market securities.

d.

the bank bill only pays interest annually, unlike other securities that pay semi-annually.