1. When an investor purchases a six-month (182-day) T-bill with a $10,000 par value for $9,700, the Treasury bill discount is ____ percent.

a. 5.93

b. 6.12

c. 6.20

d. 6.02

e. none of the above

2. An investor, purchases a six-month (182-day) T-bill with a $10,000 par value for $9,700. If the Treasury bill is held to maturity, the annualized yield is ____ percent.

a. 6.02

b. 1.54

c. 1.50

d. 6.20

e. none of the above