1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Alenkasestr [34]
3 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withdrawn before the CD matures, the early withdrawal fee is 3 months' interest.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]3 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
You might be interested in
What is the value of x in: 4x+3y=12 and 2x-3y=-30 *
NNADVOKAT [17]

Answer:

The value would be

Step-by-step explanation:

What is the value of x in: 4x+3y=12 and 2x-3y=-30 *

4x + 3y

The answer is x = 2 - 3y = 4

3y = 30

So 2x + 3y = 12 is

X = 3 - 3y/4

2x - 3y = 30

X = 15 + 3y/2

Hope it help : ) Please Rate it for me!

Have a Great Day and Winter Break!

6 0
3 years ago
Which of the following is an rational number?
Mumz [18]
C. The square root of 144
7 0
3 years ago
Read 2 more answers
Is y=3x-8 proportional
Tanzania [10]

Step-by-step explanation:

YES! HOP THIS HELPS

7 0
2 years ago
Read 2 more answers
$8000 at 4% compounded monthly for 9 years
quester [9]
4% of $8000 is $320 x 9 = $2880
The answer is $2880
4 0
3 years ago
28 + 2A = 5A + 7<br><br> Please explain thank you!
Vinvika [58]
First you need to get x on one side of the equation and to do that subtract 2a from both sides.
28 + 2a = 5a + 7
-2a -2a
28=3a+7

Then we need to get a alone by subtracting 7 on both sides.
28=3a+7
-7 -7
21=3a

Finally divide each side by 3 and you should get a = 7. Hope this helps!
3 0
3 years ago
Other questions:
  • A total of 13/4 cups of baking soda was used for multiple trials of a science experiment. Each trial used 3/4 cup of baking soda
    6·2 answers
  • A region with a 10-mile radius has a population density of about 1500 people per square mile. Find the number of people who live
    7·1 answer
  • What is the length of MN¯¯¯¯¯¯¯ ?<br><br> Round to the nearest tenth of a unit.
    12·2 answers
  • Can somone explain to me how to do this and help me thansk!!!
    14·1 answer
  • Round 0.4283 to the nearest thousandth
    12·1 answer
  • A dealer decides to sell an antique card by means of an English auction with a reservation price of $200. There are two bidders.
    9·1 answer
  • How can you tell if a discontinuity of a limit is removable or not removable?
    11·1 answer
  • Fifty people were surveyed about their preference between chocolate and vanilla cake. The following two
    9·2 answers
  • Please Do Not Answer If You Dont Know The Answer. My Grade Is Bad Enough
    13·2 answers
  • Convert 700 km to miles. Use 5 km = 3 mile. Give only the numerical value of the answer.(25 Points)
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!