问题
单项选择题
The effective annual yield for an investment is 10 percent. What is the yield for this investment on a bond-equivalent basis （）
A. 10.00%.
B. 9.76%.
C. 9.96%.
答案
参考答案：B
解析：
First, the annual yield must be converted to a semiannual yield. The result is then doubled to obtain the bond-equivalent yield.
Semiannual yield=1.10.5-1=0.0488088.
The bond-equivalent yield=2×0.0488088=0.097618.