A Treasury bill, with 45 days until maturity, has an effective annual yield of 12.50%. The bill's holding period yield is closest to:
The effective annual yield (EAY) is equal to the annualized holding period yield (HPY) based on a 365-day year. EAY = (1 + HPY)365/t ? 1. HPY = (EAY + 1)t/365 ? 1 = (1.125)45/365 ? 1 = 1.46%.
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发表于 2011-2-28 15:58
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