Convert the equivalent annual yield of an annual-pay bond to a bond-equivalent yield.
BEY of an Annual-Pay Bond = [...]
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Subject 5. Bond Equivalent Yield cannot be compared directly without conversion. This conversion can be done in one of the two ways:
Convert the bond-equivalent yield of a semi-annual-pay bond to an annual-pay bond.
<span>Convert the equivalent annual yield of an annual-pay bond to a bond-equivalent yield.
A Eurobond pays coupon annually. It has an annual-pay YTM of 8%. A U.S. corporate bond pays coupon semi-annually. It has a bond e
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