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Quant: Time Value
| Question | Answer |
|---|---|
| Bank discount yield | (Discount / Face) × (360 / days to maturity) |
| Holding period yield | (Ending value / Beginning value) - 1 |
| Effective annual yield | ((1 + HPY) ^ (365/days)) - 1 |
| Money market yield | HPY × (360 / days to maturity) |
| Effective semi-annual yield | (Annual effective yield ^ (1/2)) - 1 |
| Bond Equivalent Yield (BEY) | 2 x (Effective semi-annual yield) |