Finding the Discount Yield from the Bond Equivalent Yield formula (Please show all steps to...
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Accounting
Finding the Discount Yield from the Bond Equivalent Yield formula (Please show all steps to get Discount Yield on the left side):
How do I ALGEBRAICLLY get the Discount Yield on the left side from the following equation:
Bond Equivalent Yield = (365 * Discount Yield) / (360 - Days to Maturity * Discount Yield)
The final formula looks like: Discount Yield = (360 * Bond Equivalent Yield) / (365 + Days To Maturity * Bond Equivalent Yield)
I cannot figure out how the FINAL FORMULA factored out Discount Yield to the left side and how the Days to Maturity turned into a + sign from the original formula
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