Calculate the bond equivalent yield and effective annual return on a negotiable CD that is 115 days

Question:

Calculate the bond equivalent yield and effective annual return on a negotiable CD that is 115 days from and has a quoted nominal yield of 6.56 percent.

Maturity
Maturity is the date on which the life of a transaction or financial instrument ends, after which it must either be renewed, or it will cease to exist. The term is commonly used for deposits, foreign exchange spot, and forward transactions, interest...