Calculate the effective annual rate if the annual yield of a 28-day bond is of 6%
Calculate the effective annual rate if the annual yield of a 28-day bond is of 6%
Homework Answers
Effective annual rate = (1 + 6%*28/365)365/28 -1
effective annual rate = 6.17%
Here the number of days in a year has been assumed as 365
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Calculate the effective annual rate if the annual yield of a
28-day bond is of 6%
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