If the market rate on the cd rises to 5 percent what is its, Financial Management

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If the market rate on the cd rises to 5 percent what is its

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))

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