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You have just purchased a three-month, $520,000 negotiable CD, which will pay a 5.5 percent annual interest rate. SHOW WORK PLEASE a. If the market
You have just purchased a three-month, $520,000 negotiable CD, which will pay a 5.5 percent annual interest rate. SHOW WORK PLEASE
| 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)) |
| 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)) |
| Current market value | $
|
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