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Alenkasestr [34]
4 years ago
15

Suppose you buy a CD for $300 that earns 3% 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withdrawn before the CD matures, the early withdrawal fee is 3 months' interest. What is the early withdrawal fee on this account?
A. $2.25
B. $6.00
C. $3.75
D. $1.25
Mathematics
1 answer:
klio [65]4 years ago
4 0
Value of the CD after 3 months is given by 300(1 + 0.03 / 4) = 300(1 + 0.0075) = 300 x 1.0075 = $302.25.
Therefore, interest for 3 months = $302.25 - $300 = $2.25
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arlik [135]

Both equations are right because 3/6 is equal to 1/2 because they're equivalent fractions, giving you the same answer. (Hope this helped!)

3 0
3 years ago
1) $740 at 12% compounded monthly for 8 years
Vinil7 [7]

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5 0
3 years ago
The lengths of the base of a trapezoid is 12ft and 5ft the height is 96 in what is the area of the trapezoid
lukranit [14]
The formula for the area of a trapezoid is
  A = (1/2)(b₁ +b₂)h

Substitute the given information and evaluate. (Make sure all dimensions have the same units.)
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The area of the trapezoid is 68 square feet.
8 0
3 years ago
Read 2 more answers
Steve stayed after school for extra activities 55% of the 180 school days this year. How
Liula [17]

Answer:

He stayed for 99 days

Step-by-step explanation:

55% of 180 is 99

8 0
3 years ago
5. In a class of 78 students 41 are taking French, 22 are taking German. Of the students taking French or German, 9 are taking b
trapecia [35]
B:15 Students
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Since we know the languages of 63, we subtract 63 from 78 to find those who are taking neither. 
78-63=15
5 0
3 years ago
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