Suppose you buy a CD for $400 that earns 2.5% APR and is compounded quarterly. The CD matures in 5 years. Assume that if funds a

Question

3 years ago

14

Suppose you buy a CD for $400 that earns 2.5% APR and is compounded quarterly. The CD matures in 5 years. Assume that if funds a

re withdrawn before the CD matures, the early withdrawal fee is 3 months' interest. What is the early withdrawal fee on this account? A. $6.25 B. $2.50 C. $1.25 D. $3.13

Mathematics

1 answer:

Nastasia [14] · Answer 1 · 2022-07-14T16:05:35+03:00

Nastasia [14]3 years ago

6 0

Answer:

It is $2.50

Step-by-step explanation:

I just answered it and it was right.