问题
单项选择题
A 1 - month loan has a holding period yield of 1 percent. What is the annual yield of this loan on a bond -equivalent basis（）
A. 6.15%.
B. 12.30%.
C. 12.00%.
答案
参考答案：B
解析：
First, the 1 - month yield must be converted to a semiannual yield. The result is then doubled to obtain the bond- equivalent yield.
Semiannual yield = 1.016-1 =0.061520.
The bond- equivalent yield = 2×0.061520=0.12304.