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Problem 5 - 3 ( LG 5 - 2 ) Calculate the bond equivalent yield and effective annual return on a negotiable CD that is

Problem 5-3(LG 5-2)
Calculate the bond equivalent yield and effective annual return on a negotiable CD that is 115 days from maturity and has a quoted nominal yield of 6.62 percent. (Use 365 days in a year. Do not round intermediate calculations. Round your percentage answers to 3 decimal places. (e.g.,32.161))
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