1. What is the price of a U.S. Treasury bill with 108 days to maturity quoted at a discount yield of 2.00 percent? Assume a $1 million face value. (Enter your answer in dollars not in millions. Do not round intermediate calculations. Round your answer to 2 decimal places.)
2. Your oldest daughter is about to start. The annual tuition is 10,000 and must be paid in full at the beginning of each year. You expect your daughter to be in the same school at least until sixth grade (9 years in total). Tuition increases 5% per year. What is the present value of tuition payments if the interest rate is 5% per year?
3. What is the coupon rate of a two-year, $10,000 bond with semiannual coupons and a price of $9543.45, if it has a yield to maturity of 6.8%? Show work using Finanacial calculator.