EAR= [1+(r/m)]^m – 1
Here r= 0.5576
EAR= [1+ 0.00576/365]^365 -1
= 1.005919-1
=0.0059
=0.5592%
2.8077 million
So the negotiable CD holder will receive $2.8077 million
= ((2.8 mil -2799000)/2799000 *365
= 0.1286
BEY= [(F - P) / P] x 365
= 2.8-2.799/2.799 *365
= 0.1304
EAR= [1+(r/m)]^m – 1
= (1+ (0.1304/365))^365 – 1
= 0.13925
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