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

a. 6.02

b. 1.54

c. 1.50

d. 6.20

e. none of the above

2. You purchase 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