A credit analyst at an Investment Dealer calculates the yield for a semiannual coupon bond, and the financial calculator displays 'I/Y = 2.15'. What final step must the analyst take to determine the reported annualized Yield to Maturity (YTM)?

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The calculator displays the periodic (semiannual) yield; to determine the annualized Yield to Maturity (Bond Equivalent Yield), the user must multiply this periodic rate by two.

A credit analyst at an Investment Dealer calculates the yield for a semiannual coupon bond, and the financial calculator displays 'I/Y = 2.15'. What final step must the analyst take to determine the reported annualized Yield to Maturity (YTM)?

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