Who would be the total payoff from the cd
Course:- Business Economics
Reference No.:- EM132281484

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An S&P 500 index linked CD matures in 3 years, with the face value the same as the current S&P 500 index price, $ 1350. Upon its maturity, the investor will be paid back the face value, plus 80% of the gain on the S&P 500 index. When the CD matures in 3 years and the S&P index goes down to $1300, who would be the total payoff from the CD?

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