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You have just purchased a six - month, $ 6 9 0 , 0 0 0 negotiable CD , which will pay a 5 .

You have just purchased a six

-

month, $

690, 000

negotiable CD

,

which will pay a

5.5

percent annual interest rate.

.

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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