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Today is 15 May 2020, Sue just purchased a Treasury bond with a coupon rate of 12 = 3.2% p.a. and a face value of

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Today is 15 May 2020, Sue just purchased a Treasury bond with a coupon rate of 12 = 3.2% p.a. and a face value of $100 that matures at par. The purchase price was $98.983. The maturity date of this bond is 15 May 2022. a) Use the approximate bond yield formula to estimate the yield rate. Give your answer in form, rounded to 3 decimal places. Select one: a. 1.864% b. 3.360% c. 3.727% d. 1.990%

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