A 365-day year bank certifi cate of deposit has an initial principal amount of USD 96.5 million

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A 365-day year bank certifi cate of deposit has an initial principal amount of USD 96.5 million and a redemption amount due at maturity of USD 100 million. Th e number of days between settlement and maturity is Th e bond equivalent yield is closest to:

A . 3.48%.

B . 3.65%.

C . 3.78%.

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