The National Australia Bank wants to obtain short - term funds on the money market and issues

Fantastic news! We've Found the answer you've been seeking!

Question:

The National Australia Bank wants to obtain short - term funds on the money market and issues a 30 day Certificate of deposit (COD) to a wholesale investor. The amount of the deposit is $20,000,000 and the relevant rate is 4.5% p.a.

What is the Face Value of one of the Certificates of Deposit? What does this value mean?

Related Book For answer-question

Smith and Roberson Business Law

ISBN: 978-0538473637

15th Edition

Authors: Richard A. Mann, Barry S. Roberts

See More Books

Posted Date: Dec 28, 2022 11:50 PM

See More Questions

What happens if an investor does not deposit enough funds in the account to pay for the shares bought?
A bank is offering to sell 6-month certificates of deposit for $9500. At the end of 6 months, the bank will pay $10,000 to the certificate owner. Based on a 6-month interest period, compute the...
What role do digital certificates and certificate authorities play in e-commerce?
Suppose that In Example 18.6 the electrical firm does not have enough prior information regarding the population mean length of life to be able to assume a normal distribution for p. The firm...
Developing a global business strategy for a Multinational corporation (MNC) is a highly complex task. Briefly discuss the complexities referred to in the preceding statement. .
Dorsey Corporation purchased 90% of the common stock of Lansing Company on January 1, 2018. The cost of the investment was equal to the book value interest acquired. Lansing Company operates two...
Write short notes on Window Air Conditioner and Split Air Conditioner.
Determine the optimal order quantity and total annual inventory cost for boxes of stationery in Problem 13-25 if the carrying cost is 20% of the price of a box of stationery.
What is MATLAB? Pros and cons.
An analysis of transactions for Foley & Co. was presented in E18. Assume that August is the companys first month of business. In E18, An analysis of the transactions made by Foley & Co., a certified...
Water at 15C is to be heated to 65C by passing it over a bundle of 4-m-long, I-cm-diameter resistance heater rods maintained at 90C. Water approaches the heater rod bundle in normal direction at a...
Explain what is meant by use case realization.
How is the amount reported as consolidated retained earnings determined?
What is the difference between an interaction use and an interaction fragment?
Pester Company transferred the following assets to a newly created subsidiary, Shumby Corporation, in exchange for 40,000 shares of its $3 par value stock: Required a. Give the journal entry in which...
Match List-I with List-II and select the correct answer using the codes given below the lists: List-I (Characteristics equations) A. s + 15s + 26.25 2 B. s + 5s + 6.25 2 C. s+ 20.25 D. s + 4.5s +...
Manufactura y Ms Compaa has had an incentive plan in recent years: factory workers are paid L. 100.00 per unit produced with a guaranteed minimum salary of L. 4,000 per week. Below is a report on the...
Don Griffin worked as an accountant at a local accounting firm for five years after graduating from university. Recently, he opened his own accounting practice, which he operates as a corporation....
Discuss the contract liability of a partnership and the partners.
The Coca-Cola Company manufactures a carbonated beverage, Coke, made from coca leaves and cola nuts. The Koke Company of America introduced into the beverage market a similar product named Koke. The...
We granted certiorari in this case to address an issue of first impression in Colorado regarding whether under [UCC] 1-201(b)(20) and [UCC] 3-302, C.R.S. (2007), Colorados codification of the...
Which of the following statements are hypotheses? (a) Heavier objects fall to Earth faster than lighter ones. (b) The planet Mars is inhabited by invisible beings that are able to elude any type of...
A couple in a sport-utility vehicle (SUV) is traveling at 90 km/h on a straight highway. The driver sees an accident in the distance and slows down to 40 km/h in
Two children in a playground swing on two swings of unequal length. The child on the shorter swing is considerably heavier than the child on the longer swing. You observe that the longer swing swings...

The National Australia Bank wants to obtain short - term funds on the money market and issues

Question:

Expert Answer:

The detailed answer for the abo... View the full answer

Smith and Roberson Business Law

Students also viewed these accounting questions