Treasury bills. Which of the following are characteristics of Treasury bills (T-bills)? Check all that apply. A. T-bills are sold at a discount. B. The government doesn't pay interest on T-bills. C. T-bills have maturities of from 6 months to 1 year. D. Institutional investors, but not individuals, can purchase T-bills. Suppose Mr. Zhou buys a 90-day T-bill with a face value of $1,000 at a price of $993. The discount rate yield (DRY) would be _______ whereas the investment return yield (IRY) would be ________