steps to get solutions for the answer of $6\mathrm{.}32$The yield on a pure$-$discount instrument maturing in $200$ days is equal to $6\mathrm{.}5\%$ per year,

compounded annually.

$($a$)$ What would the yield on this instrument be equal to if it were quoted using the

ACT $\frac{?}{360}$ day$-$count convention?