Question
Jack invested in a government bond that promised an annual yield to maturity of 10.9 percent. The bond pays coupons twice a year. What is
Jack invested in a government bond that promised an annual yield to maturity of 10.9 percent. The bond pays coupons twice a year. What is the effective annual yield (EAY) on this investment? (answer as a percentage rounded to two decimal places without % sign. eg 2.889% is 2.89)
Answer:
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Financial and Management Accounting
Authors: Pauline Weetman
7th edition
1292086599, 978-1292086590
