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- YEARLY RENEWABLE TERM (YRT)
- A type of reinsurance agreement. As the name indicates, it is a one-year agreement renewable annually.
- YIELD
- A financial ratio that measures the rate of return on a capital investment. The ratio is generally expressed as a percentage of the current price. The following are some of the more common yield calculations. Definitions for these terms can be found in their normal alphabetical sequence in this listing.
- YIELD TO CALL
- A financial ratio that measures the rate of return on a callable bond. The yield on a bond that assumes redemption of that bond by the issuer at the first possible call date as stated in the indenture agreement.
- YIELD TO MATURITY
- A financial ratio that measures the rate of return on a bond's acquisition cost if the bond is held to maturity. The ratio accounts for any interest income from the bond and assumes that the bond is held and redeemed at maturity.
- ZERO COUPON BONDS
- A bond that does not make interest payments but is sold at a deep discount. At the maturity of the bond, the full face amount of the bond is payable. The bond does result in a taxable income each year.
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