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

The discount yield on a T-bill differs from the T-bill's bond

The discount yield on a T-bill differs from the T-bill's bond equivalent yield (BEY) because 1. the discount yield is the return per dollar of face value and the BEY is a return per dollar originally invested. II. a 360-day year is used on the discount yield and the BEY uses 365 days. III. the discount yield is calculated without compounding, and the BEY is calculated with compounding. Select one: Il only O III only O I and II only O II and III only O I and III only O I, II, and III O I only

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