a) What is the amount allocated? Is this a successful auction? Please explain your reasoning.

b) Interpret the High Yield of 1.155%, how is the Interest rate of 1-1/8% determined?

c) What is the meaning of Allotted at High of 43.03%? What is the meaning of Low Yield of 0.990%?

d) Use Excel and show how the Price of 99.798822 is determined.

FREABUSY TREASURY NEWS Department of the Treasury Bureau of the Fiscal Service ESCALES For Immediate Release August 26, 2021 CONTACT: Treasury Auctions 202-504-3550 TREASURY AUCTION RESULTS Term and Type of Security CUSIP Number Series 7-Year Note 91282CCVI P-2028 Interest Rate High Yield Allotted at High Price Accrued Interest per $1,000 1-1/8% 1.155% 43.03% 99.798822 None Median Yield Low Yield 1.099% 0.990% Issue Date Maturity Date Original Issue Date Dated Date August 31, 2021 August 31, 2028 August 31, 2021 August 31, 2021 Competitive Noncompetitive FIMA (Noncompetitive) Subtotal Tendered $144,816,802,000 $14,079,100 $0 $144,830,881,100 Accepted $61,985,937,500 $14,079,100 $0 $62,000,016,600 SOMA $7,789,786,300 $7,789,786,300 Total $152,620,667,400 $69,789,802,900 Primary Dealer Direct Bidder Indirect Bidder Total Competitive Tendered $84,834,000,000 $16,888,800,000 $43.094.002,000 $144,816,802,000 Accepted $12,444,302,500 $11,688,800,000 $37,852.835,000 $61,985,937,500 All tenders at lower yields were accepted in full. 50% of the amount of accepted competitive tenders was tendered at or below that yield. 75% of the amount of accepted competitive tenders wus tendered at or below that yield. 'Bid-to-Cover Ratio: $144,830,881.100/$62,000,016,600 = 2.34 Awards to Treasury Direct = 58.807.100. Primary dealers as submitters bidding for their own house accounts. Non-Primary dealer submitters bidding for their own house accounts 'Customers placing competitive bids through a direct submitter, including Foreign and International Monetary Authorities placing bids through the Federal Reserve Bank of New York FREABUSY TREASURY NEWS Department of the Treasury Bureau of the Fiscal Service ESCALES For Immediate Release August 26, 2021 CONTACT: Treasury Auctions 202-504-3550 TREASURY AUCTION RESULTS Term and Type of Security CUSIP Number Series 7-Year Note 91282CCVI P-2028 Interest Rate High Yield Allotted at High Price Accrued Interest per $1,000 1-1/8% 1.155% 43.03% 99.798822 None Median Yield Low Yield 1.099% 0.990% Issue Date Maturity Date Original Issue Date Dated Date August 31, 2021 August 31, 2028 August 31, 2021 August 31, 2021 Competitive Noncompetitive FIMA (Noncompetitive) Subtotal Tendered $144,816,802,000 $14,079,100 $0 $144,830,881,100 Accepted $61,985,937,500 $14,079,100 $0 $62,000,016,600 SOMA $7,789,786,300 $7,789,786,300 Total $152,620,667,400 $69,789,802,900 Primary Dealer Direct Bidder Indirect Bidder Total Competitive Tendered $84,834,000,000 $16,888,800,000 $43.094.002,000 $144,816,802,000 Accepted $12,444,302,500 $11,688,800,000 $37,852.835,000 $61,985,937,500 All tenders at lower yields were accepted in full. 50% of the amount of accepted competitive tenders was tendered at or below that yield. 75% of the amount of accepted competitive tenders wus tendered at or below that yield. 'Bid-to-Cover Ratio: $144,830,881.100/$62,000,016,600 = 2.34 Awards to Treasury Direct = 58.807.100. Primary dealers as submitters bidding for their own house accounts. Non-Primary dealer submitters bidding for their own house accounts 'Customers placing competitive bids through a direct submitter, including Foreign and International Monetary Authorities placing bids through the Federal Reserve Bank of New York