Just to clarify, the question states "depositing from the bank". This may be a typo...
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Just to clarify, the question states "depositing from the bank". This may be a typo and instead can be interpreted as "deposited in the bank". I'm not sure; whatever help you can give is appreciated!
You are depositing $2m from the bank starting in 245 days and ending in 364 days. You have agreed to pay 2.12% interest on an ACT/360 basis. If interest rates are: Days Rates 245 2.58 364 2.46 what is the present value of this transaction? (Round your answer to the nearest 0.01)
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