Question
You have just purchased a six-month, $580,000 negotiable CD, which will pay a 5.5 percent annual interest rate. a. If the market rate on the
You have just purchased a six-month, $580,000 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? (Do not round intermediate calculations. Round your answer to 2 decimal places. (e.g., 32.16))
Answer: Current market value: $_____
b. If the market rate on the CD falls to 5.25 percent, what is its current market value? (Do not round intermediate calculations. Round your answer to 2 decimal places. (e.g., 32.16))
Answer: Current market value $_____
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Stock Market Trading For Beginners
Authors: Irvin Tarr
1st Edition
1491885327, 978-1491885321
