Hi All - I recently registered for the CFA level 1 exam and have been trying to get caught up with the cirriculum ASAP. In Reading 6 of the first book, question 8 part c, the effective annual yield is requested on a bond given the face value, purchase price and holding period. I compute 4.6383% whereas the book reports 4.7044%. The solution guide sets up the equation as follows:
I enter these numbers into my calculator and get my answer. Typo or am I making a mistake?