Question
A 182-day $14 million negotiable CD has a 5.00% annual rate quote. It is currently selling at par as market rates are 5%. Thirty days
A 182-day $14 million negotiable CD has a 5.00% annual rate quote. It is currently selling at par as market rates are 5%. Thirty days have passed. Market rates have risen to 5.50%. You desire to sell the negotiable CD. How much should you receive for the NCD if you sell it?
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Fundamentals Of Financial Management
Authors: James C Van Horne
3rd Edition
0133393410, 978-0133393415
