Multiple Choice
A 365-day year bank certificate of deposit has an initial principal amount of uSd 96.5 million and a redemption amount due at maturity of uSd 100 million. The number of Days between settlement and maturity is 350. The bond equivalent yield is closest to:
A) 3.48%.
B) 3.65%.
C) 3.78%.
Correct Answer:
Verified
Correct Answer:
Verified
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