What is its current market value

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Reference no: EM131603727

You have just purchased a four-month, $630,000 negotiable CD, which will pay a 4.5 percent annual interest rate.

a. If the market rate on the CD rises to 5 percent, what is its current market value?

(Do not round intermediate calculations. Round your answer to 2 decimal places. (e.g., 32.16))

b. If the market rate on the CD falls to 4.25 percent, what is its current market value? (Do not round intermediate calculations. Round your answer to 2 decimal places. (e.g., 32.16))

Reference no: EM131603727

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