Question: Problem 3 1 - 3 2 Money - market yields A three - month bill that was issued on an annually compounded yield of 4

Problem 31-32 Money-market yields
A three-month bill that was issued on an annually compounded yield of 4%. Suppose that one month has passed and the investment still offers the same annually compounded return, answer the following:
What is the percentage discount?
Calculate the Monthly return.
Calculate the present annual yield.
Note: Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places.
Problem 31-32 Money-market yields A three-month bill that was issued on

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