XYZ Corporation invests \( \$ 3,000 \) into 91-day treasury bills with an interest rate of \( 2.9 \% \). If the broker charges a \( \$ 30 \) commission, what is the yield? yield = [?]\% \[ \text { yield }=\frac{\text { amount invested (interest rate) }\left(\frac{\text { days invested }}{360 \text { days }}\right)}{\text { amount invested }\left(\frac{\text { days invested }}{360 \text { days }}\right)+\text { commission }} \] Give your answer as a percent rounded to the nearest hundredth

To calculate the yield, we need to use the formula provided. Let's go through the calculations step by step: 1. Calculate the interest earned on the investment: \[ \text{Interest} = \text{Amount Invested} \times \text{Interest Rate} \times \left(\frac{\text{Days Invested}}{360}\right) \] Substituting the values: \[ \text{Interest} = 3000 \times 0.029 \times \left(\frac{91}{360}\right) \approx 3000 \times 0.029 \times 0.2528 \approx 21.93 \] 2. Calculate the total amount after the interest: \[ \text{Total Amount} = \text{Amount Invested} + \text{Interest} = 3000 + 21.93 \approx 3021.93 \] 3. Calculate the yield using the formula: \[ \text{yield} = \frac{\text{Interest}}{\text{Total Amount} - \text{Commission}} = \frac{21.93}{3021.93 - 30} \approx \frac{21.93}{2991.93} \approx 0.00733 \] 4. To convert this to a percentage: \[ \text{Yield} = 0.00733 \times 100 \approx 0.733\% \] 5. Rounding to the nearest hundredth, the yield is: \[ \text{Yield} \approx 0.73\% \] So the yield for XYZ Corporation's investment is approximately **0.73%**.