Answer:
here is your answer.
Step-by-step explanation:
total frequency is 24
A it’s a I think ok because I’m new
The early withdrawal fee on this account is $6.25
Step-by-step explanation:
Suppose you buy a CD for $1000
- It earns 2.5% APR and is compounded quarterly
- The CD matures in 5 years
- Assume that if funds are withdrawn before the CD matures, the early withdrawal fee is 3 months' interest
We need to find the early withdrawal fee on this account
∵ The annual interest is 2.5%
- Change it to decimal
∵ 2.5% = 2.5 ÷ 100 = 0.025
∴ The annual interest rate is 0.025
∵ The interest is compounded quarterly
∴ The interest rate per quarter = 0.025 ÷ 4 = 0.00625
∵ The early withdrawal fee is 3 months' interest
∵ You buy the CD for $1000
∵ A quarter year = 3 months
∴ The early withdrawal fee = 1000 × 0.00625 = $6.25
The early withdrawal fee on this account is $6.25
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Answer:
26. D) $252
27. A) -6.7 + 6.8
Step-by-step explanation:
26. 400 * 0.3 = 120
400 - 120 = 280
280 * 0.1 = 28 (because the 10% is additional, cannot add it to the original 30%)
280 - 28 = 252
27. -4.5 + 4.4 = -0.1
- 6.7 + 6.8 = 0.1
-0.1 + 0.1 = 0