What is the fair price, You have a $1000 CD that pays 5%

What is the fair price

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Reference no: EM131881274

You have a $1000 CD that pays 5% compounded annually with two years remaining until maturity. Right now, the market rate is 4%.

Let's suppose you need cash and decide to sell the CD to your brother. What's the fair price?

Reference no: EM131881274

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