A bank has issued a six$-$month, $$2\mathrm{.}9$ million negotiable $CD$ with $a0\mathrm{.}45$ percent quoted annual interest rate $(iCD,sp).$

Calculate the bond equivalent yield and the EAR $on$ the $CD.$

How much will the negotiable $CD$ holder receive $at$ maturity?

Immediately after the $CDis$ issued, the $secondary$ market price $on$ the $$3$ million $CD$ falls $to$ $$2,899,000.$ Calculate the new $secondary$ market quoted yield, the bond equivalent yield, and the EAR $on$ the $$2\mathrm{.}9$ million face value $CD.$