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The Treasury will sell $30 billion in 5-year T-notes at auction. T-notes auctions are similar...

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The Treasury will sell $30 billion in 5-year T-notes at auction. T-notes auctions are similar to T-bill auctions: bids are submitted in terms of yield, but in 0.001% increments. There are $1 billion noncompetitive bids, and the competitive bids are for $9.5 billion at yield 1.100%, $10 billion at yield 1.101, $10 billion at yield 1.102, $20 billion at yield 1.103, and $19.5 billion at yield 1.104. At what yield will the T-notes be auctioned at? 1.100 1.101 1.102 1.103 1.104

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