You have just purchased a six-month 530000 negotiable cd, Ask an Expert

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You have just purchased a six-month, $530,000 negotiable CD, which will pay a 6.5 percent annual interest rate.

a. If the market rate on the CD rises to 7 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 6.25 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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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92266664

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