bluebird00

The period during which you own an investment is called its holding period, and the return for that period is the holding period
return (HPR).

HPR=Ending Value of Investment/Beginning Value of Investment

holding period yield (HPY). The HPY is equal to the HPR minus 1

To derive an annual HPY, you compute an annual HPR and subtract 1. Annual HPR is found by:
       Annual HPR = HPR^1/n, where: n = number of years the investment is held

So, holding period yield of 6% should be semi-annual rate