A CD with a Face Value of USD 250 Million

question 53

Multiple Choice

A CD with a face value of USD 250 million was issued at par with a coupon of 5% for 91 days. You buy it in the secondary market when it has 30 days remaining to maturity and is trading at 5.25%. How much do you pay?

• A) USD 252,056,972.97
• B) USD 252,028,916.32
• C) USD 250,000,000.00
• D) USD 248,911,014.31

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