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Calculate the face value of the cd

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Reference no: EM132977088

Problem1 : A customer of a bank has $500 000 in surplus funds that need to be invested for a short period of time. The bank offers to sell a 180-day negotiable certificate of deposit to the customer at a yield of 5.34 per cent per annum. Calculate the face value of the CD and advise the customer of the dollar return on the CD.

Reference no: EM132977088

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