Because t-bill yields are quoted with the discount method, their quoted yields are not directly comparable to bond-equivalent yields (i.e., how typical longer-maturity bonds are quoted) for what reasons? Choose the two that apply:

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a

The bank discount yield is calculated off of face value rather than initial buy price

b

The bank discount yield assumes continuous compounding rather than monthly

c

The bank discount yield assumes a 360 (rather than the true 365 or 366) day year

d

The bank discount yield assumes all coupons are paid at maturity