A bond with a coupon rate of 5.28 percent and semiannual coupon payments matures in 15 years. The YTM is 6.46 percent. What is the effective annual yield?
Effective annual yield can be calculated using the formula for effective annual rate
n = 2, i = 6.46%
EAR = 1.0656 - 1
EAR = 0.0656
EAR = 6.56%
A bond with a coupon rate of 5.28 percent and semiannual coupon payments matures in 15...
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