I believe the yield is year on year effective compound interest rate, so a bond bought in 2003 may well have increased on average 3.98%/year over the last 12 years.
I have just checked a $10k bond I bought in October 2003, and the stated yield is 3.56%. I just tried putting that $10k in a spreadsheet and applying 3.56%/year and it appears to be correct.There's a fixed rated (not sure how much) and an inflation rate. The bonds always increase in value every month. This month it did not.
I have just checked a $10k bond I bought in October 2003, and the stated yield is 3.56%. I just tried putting that $10k in a spreadsheet and applying 3.56%/year and it appears to be correct.
Not sure why the wizard is not increasing it month by month using the fixed rate, something not quite right there.