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Money Market Yields Example: Suppose you can purchase a $ 1 million negotiable CD that is currently 1 0 5 days from maturity. The CD

Money Market Yields

Example: Suppose you can purchase a $

1

million negotiable CD that is currently

105

days from maturity. The CD has a quoted annual interest rate of

5.16

percent for a

360 -

day year. What are the BEY and EAR?

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