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You have just paid $ 6 3 0 , 0 0 0 for a four - month negotiable C D , which has a 4

You have just paid $630,000 for a four-month negotiable CD, which has a 4.5 percent annual interest rate (single payment yield).
a. If the market rate on the CD rises to 5 percent, what is its current market value?
b. If the market rate on the CD falls to 4.25 percent, what is its current market value?
(For all requirements, do not round intermediate calculations. Round your answers to 2 decimal places. (e.g.,32.16))
Answer is complete but not entirely correct.
\table[[,,Amount],[a.,Current market value,$650,107.50x
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