Ask question

Ask question

All categories

3 years ago

8

Suppose you buy a CD for $900 that earns 8% APR and is compounded quarterly. The CD matures in 3 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withdrawn before the CD matures, the early withdrawal fee is 3 months' interest.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?

1 answer:

Dmitriy789 [7]3 years ago

3 0

A=p(1+i/m)^mn
A=900×(1+0.08÷4)^(4×3/12)
A=918
I=900-918=18
So the early withdrawal fee is 18

You might be interested in

9 - x2 + 2xy - y2 <br> Factorise

LenaWriter [7]

9-x.2+2xy-y.2

9-2x+2xy-2y

-2x+2xy-2y+9

5 0

2 years ago

When class 11Y1 found that their favourite teacher, Mr Musson, was leaving they decided to organise a party for him. Lewis, one

TEA [102]

Answer: £14.94

Step-by-step explanation:

36 cartons at £1.56 for 4 = 14.04

2 cartons at £45p = 0.90

6 0

2 years ago

What is 234x13+76=?<br>the explained comment get brainiest

Scorpion4ik [409]

Answer:

The answer is 3118

Step-by-step explanation:

First -> 234 x 13 = 3042

Second -> Add 76 to 3042

Equals out to -> 3118

Hope this helps!

7 0

2 years ago

Read 2 more answers

There is a new treatment to help smokers stop smoking in an experiment, 80% of 300 smokers quit after 10 days of treatment which

Thepotemich [5.8K]

Answer:

(0.755, 0.845)

Step-by-step explanation:

I got it right, on the test so trust me!

6 0

2 years ago

Express 73/5as a decimal.

Assoli18 [71]

Answer:

as a fraction it could be 3/5

Step-by-step explanation:

but as a decimal it would be 0.6

7 0

2 years ago