Question
Blue Skies Bank of Colorado issues a three-month (90-day) negotiable CD in the amount of $20 million to ABC Insurance Company at a negotiated annual
Blue Skies Bank of Colorado issues a three-month (90-day) negotiable CD in the amount of $20 million to ABC Insurance Company at a negotiated annual interest rate of 2.75 percent (360 day basis).
What will be the total value of this CD on the day it matures? Show you answer to the nearest dollar in the $xx,xxx,xxx format.
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Contemporary Economics An Applications Approach
Authors: Robert Carbaugh
8th Edition
1138652199, 978-1138652194
