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1000/1.02375 = Purchase Price = 976.80
1000 976.80 = Discount of 23.20
BDY = D/F * (360/n)
= 23.20/1000 * (360/180) = 4.64%
The point made above is good too!
I think this might be the case always if you’re using the same rates:
HPY |
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