Calculate the payment due at maturity

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Reference no: EM131954857

You invested in a 90 day CD from Citizens Bank on 3/31/17. It had a stated interest rate of 3.6%, and you invested $200,000 in the CD.

(a) Calculate the payment due at maturity.

(b) It is now 4/15/17. A broker offers you a price of 99.90 for the CD. If you sell the CD to the broker, what will be the proceeds that you will receive?

Reference no: EM131954857

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