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Dimas [21]
3 years ago
9

Adam invested $12,000 in a six-year CD that paid 7.1% interest, but later needed to withdraw $2,500 early. If the CD's penalty f

or early withdrawal was eighteen months' worth of interest on the amount withdrawn, how much of a penalty did Adam pay?a. $138.89b. $177.50c. $266.25d. $319.50
Mathematics
1 answer:
Neporo4naja [7]3 years ago
7 0

Answer:

C

Step-by-step explanation:

The amount Adam invested in a six years CD was $12,000 was 7.1%

Adam made a withdrawal of $2500 early. The early withdrawal was worth eighteen months of interest on the amount withdrawn.

Monthly interest = 7.1% / 12

= 0.59%

The interest for 18 months will be

(7.1% /12)18

= 10.65%

The penalty for withdrawing early was 18 months worth the interest on the amount withdrawn

= 2500 * 10.65%

= 266.25

This means Adam needs to pay a penalty of $266.25 for withdrawing early

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Answer: 32 paving stones

Step-by-step explanation:

Hi, to answer this question, first we have to convert the measures of the paving stones into meters.

Since: 1m = 100 cm

50 cm /100 = 0.5m

Now, we have to calculate the area of each paving stone:

Area of a square: s^2 = 0.5^2 = 0.25m2

Next, the area of the path.

Area of a rectangle = width x length = 1 x 8 = 8 m2

Finally, we have to divide the area of the path by the area of each paving stone:

8/0.25 = 32 paving stones

Feel free to ask for more if needed or if you did not understand something.

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3 years ago
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3 years ago
The distance between two towns on a map is 9 centimeters. the actual distance between two towns is 63 kilometers. what is the sc
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Answer:

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