Question: A4) The discount yield on a T-bill differs from the T-bill's bond equivalent yield (BEY) because;1. I. the discount yield is the return per dollar

A4) The discount yield on a T-bill differs from the T-bill's bond equivalent yield (BEY) because;1. I. the discount yield is the return per dollar of face value and the BEY is a return per 2. II. a 360-day year is used on the discount yield and the BEY uses 365 days. dollar originally invested. 3. III. the discount yield is calculated without compounding, and the BEY is calculated with compounding. A) I only B) II only C) I and Il only D) I and III only E) I,I, and I

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