3. Negotiable Instruments are: a. The real interest rates of these CDs are higher than that of traditional CDs, giving investors below or above value prices b. A savings certificate entitling the bearer to receive interest c. Since investors do pay the full price for Zero coupon CDs, they receive the benefit of gaining CDs with higher value at maturity - especially CDs with long terms. Instructions: since negotiable instruments in this question is focused on CDs - what was the key factor(s) you rejected the two other statements?