Question is about to get annual redemption yield (to the nearest 1%) And as per solution its 3%. Is it the standard to give answer in term of complete number i.e. 4%, 5% or 6%.? Or is this due to that in this question at 3% we get the nearest result. Since I try to obtain interest rate by interpolation and I get 3.1% What is the best way to answer such type of question?
question states "to the nearest 1%" so no decision required. if it didn't then you could quote 3.1 say.
