Question: Can someone show m e where i went wrong Problem 5 : Six - Month Negotiable C D Problem: A bank has issued a six

Can someone show me where i went wrong
Problem 5: Six-Month Negotiable CD
Problem: A bank has issued a six-month, $2 million negotiable CD with a0.52 percent quoted annual interest rate. Calculate the bond equivalent yield, the EAR, the maturity amount, and the secondary market yield if the CD price falls.
Step 1: Bond Equivalent Yield (BEY)
The Bond Equivalent Yield is calculated using the quoted rate and maturity period.
Formula:
BEY=(F)x365360
Solution:
=0.52365360=0.5272
Step 2: Effective Annual Return (EAR)
The EAR reflects compounding over the year.
Formula:
(1+BEY365n)?(365n)1
Solution:
==(1+0.5272365180)?(365)?180-1
=2.18%
Step 3: Amount Received at Maturity
The maturity amount is calculated using simple interest.
Formula:
Maturity Amount=P(1+Fn360)
P=2,000,000
Quoted =0.52%
n=180
360
Solution:
=2,000,000(1+0.52x180360)

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