You have just purchased a three-month 520000 negotiable cd


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 $

Request for Solution File

Ask an Expert for Answer!!
Financial Management: You have just purchased a three-month 520000 negotiable cd
Reference No:- TGS01705040

Expected delivery within 24 Hours