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Alice buys a newly-issued 13 -week promissory note with a face value of $100,000 at a market yield of 8.125% p.a. and sells it 14-days
Alice buys a newly-issued 13 -week promissory note with a face value of $100,000 at a market yield of 8.125% p.a. and sells it 14-days later at a market yield of 8.250% p.a. to James. Which of the following is closest to the effective annual rate of return that Alice made from the investment? 9.17\% p.a. 8.69% p.a. 7.57% p.a. 8.19% p.a. 0.28% p.a
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