If interest is paid 1 times per year (number of periods), and the periodic interest rate is 0.57%, what is the bond equivalent yield, stated as a percent? Hint: The periodic rate is the rate for the compounding period. If the bond compounded 12 times per year, the rate given above would be a monthly rate. Round to two percentage points and do not include the percent sign. For example, if your answer is 0.5463, you would answer 54.63