If the market rate on the cd rises to 8 percent what is its, Finance Basics

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If the market rate on the cd rises to 8 percent what is its

Question: You have just purchased a two-month, $660,000 negotiable CD, which will pay a 7.5 percent annual interest rate.

a. If the market rate on the CD rises to 8 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 7.25 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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