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You have just purchased a four-month, $500,000 negotiable CD, which will pay a 5.5 percent annual interest rate. a. If the market rate on the

You have just purchased a four-month, $500,000 negotiable CD, which will pay a 5.5 percent annual interest rate.

a. If the market rate on the CD rises to 6 percent, what is its current market value?

b. If the market rate on the CD falls to 5.25 percent, what is its current market value?

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