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The treasurer of a large corporation wants to invest $ 2 4 million in excess short - term cash in a particular money market investment.

The treasurer of a large corporation wants to invest $24 million in excess short-term cash in a particular money market investment. The prospectus quotes the instrument at a true yield of 3.51 percent; that is, the EAR for this investment is 3.51 percent. However, the treasurer wants to know the money market yield on this instrument to make it comparable to the T-bills and CDs she has already bought. If the term of the instrument is 88 days, what are the bond equivalent and discount yields on this investment?
Note: Do not round intermediate calculations. Enter your answers as a percent rounded to 3 decimal places.
\table[[,,],[Bond equivalent yield,15.383ox,%
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