Assume that 3-month Treasury bills totaling $23 billion were sold in $10,000 denominations at a discount rate of 5.200%. In addition, the Treasury Department sold 6-month bills totaling $21 billion at a discount rate of 5.145%.
a. What is the discount amount for 3-month bills? (Do not round intermediate calculations. Round your final answer to the nearest cent.)
Discount amount for 3-month bills: $ ____
b. What is the discount amount for 6-month bills? (Do not round intermediate calculations. Round your final answer to the nearest cent.)
Discount amount for 6-month bills: $ ____
c. What is the effective rate for 3-month bills? (Do not round intermediate calculations. Round your final answer to the nearest hundredth percent.)
Effective rate for 3-month bills: ____ %
d. What is the effective rate for 6-month bills? (Do not round intermediate calculations. Round your final answer to the nearest hundredth percent.)
Effective rate for 6-month bills: ____ %