Hello!
I’ve recently started studying for the June 2013 exam. I believe that there must be a mistake in the problem solution formula on page 320, problem 8c. The solution states that to calculate the Effective Annual Yield, the 1+HPY value must be raised to (360/t) power, whereas earlier in the reading, the formula stated the power to be raised to as (365/t).
The actual resulting number in the solution is correct, but the formula is wrong.
Has anyone else noticed this?
