Question
Suppose that $10 million face value negotiable certificate of deposit (NCD) with a 90-day maturity is selling for $9.95 million. What is the bond equivalent
Suppose that $10 million face value negotiable certificate of deposit (NCD) with a 90-day maturity is selling for $9.95 million. What is the bond equivalent yield on the NCD?
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Investment Analysis and Portfolio Management
Authors: Frank K. Reilly, Keith C. Brown, Sanford J. Leeds
11th Edition
1305262999, 1305262997, 035726164X, 978-1305262997
