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Question
Suppose a bank expects to issue 45-day negotiable CDs for $150 million. The interest rate on these CDs is 6.35 percent. What is the dollar amount in interest the bank will owe on these CDs at the end of the 45-day period?
A. $9,525,000
B. $1,190,625
C. $76,200,000
D. $6,750,000
E. None of the options is correct
Answer
This answer is hidden. It contains 1 characters.
Related questions
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Which of the following adjustments are made to gross loans and leases to obtain net loans and leases?
A. Loan and lease loss allowance is added to gross loans.
B. Unearned income is subtracted from gross interest received.
C. Investment income is added to gross interest received.
D. Loan and lease loss allowance and unearned income is subtracted from gross loans.
E. Loan and lease loss allowance is subtracted from gross loans and investment income is added to gross interest received.
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Which of the following would be an example of a repriceable asset?
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According to the textbook, the lackadaisical profit performance surrounding a merger may be explained by the:
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