Yield Measures

Quoted add-on yield = HPY x 365/days to maturity
Quoted discount yield= discount on the security x 360/days to maturity

Spot rate: discount rate for a single future payment

Simple yield: measure of a bond's yield that accounts for coupon interenst and assues straight-line amortization of a discount or premium

Forward rate: interest rate for a future period, such as a 3-month rate six months from today