treasury bond 和treasury bill的区别是什么啊

The U.S. govenment issues various types of debt to finance federal project. Most of its short-term debt is raised by selling Treasury bills, which come in maturities ranging from 91 days to 364 days. Unlike many income-oriented investment, T-bills do not pay interest. Instead, they are sold at a discount, then redeemed at full face value when they mature. The difference between the purchase and the redemption price is, in effect, the interest. Because T-bills require a minimum investment of $10,000, they have limited appeal for the small investor.

To finance its longer-term debt, the government issues Treasury notes, which mature in 1 to 7 years, and U.S. government bonds, which mature in 7 to 25 years. Both are available for a minimum investment of $1,000. These securities pay a fixed amount of interest twice a year, which is exempt from state and local income taxes...

Small investors are particularly fond of U.S. saving bonds, because they are available in d