. What price would you pay for a $2.25m face value bank bill which has 87 days to maturity that is trading at a yield of 1.18%

1. If you sold this bill (from question 4) 46 days later at a yield of 1.12%: a) What is your profit or loss? b) What is your return over the period? c) What is your annualised return? d) Compared with long term returns from cash, was this a good return? Explain why?