单选题

The effective annual yield (EAY) for a T-bill maturing in 150 days is 5.04 percent. What are the holding period yield (HPY) and money market yield (MMY) respectively?（）

A、 5.25%；2.04%
B、 1.90%；3.80%
C、 2.04%；4.90%

【正确答案】 C

【答案解析】

The EAY takes the holding period yield and annualizes it based on a 365-day year accounting for compounding. The HPY=(1+0.0504)^150/365= 1.2041-1=2.04%. Using the HPY to compute the money market yield=HPY×(360/t)=0.0204×(360/150)=0.04896=4.90%.