The discount yield on a T$-$bil differs from the T$-$bil's bond equivalent yield $($BEY$)$ because

The discount yleld is the return per dollar of face value and the BEY is a return per dollar originally invested. I. a $360-$day year is used on the discount yield and the BEY uses $365$ days.

III. the discount yeld is calculated without compounding, and the BEY is calculated with compounding.

Multople Chotce

I enly

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I end I ovly

fland II only

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