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What is the discount yield, bond equivalent yield, and effective annual return on a $1 million commercial paper issue that currently sells at 96.375 percent
What is the discount yield, bond equivalent yield, and effective annual return on a $1 million commercial paper issue that currently sells at 96.375 percent of its face value and is 70 days from maturity? (Use 360 days for discount yield and 365 days in a year for bond equivalent yield and effective annual return. Do not round intermediate calculations. Round your answers to 3 decimal places. (e.g., 32.161))
1.) Discount Yield % (Round all answers to 3 decimal places)
2.) Bond equivalent Yield %
3.) Effective annual return %
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