Question: Show me the steps to solve this. 4 . The yield on a pure - discount instrument maturing in 2 0 0 days is equal

Show me the steps to solve this. 4. The yield on a pure-discount instrument maturing in 200 days is equal to 6.5% per year,
compounded annually.
(a) What would the yield on this instrument be equal to if it were quoted using the
ACT/360 day-count convention?

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