The early withdrawal fee on this account is $6.25
Step-by-step explanation:
Suppose you buy a CD for $1000
- It earns 2.5% 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- Assume that if funds are withdrawn before the CD matures, the early withdrawal fee is 3 months' interest
We need to find the early withdrawal fee on this account
∵ The annual interest is 2.5%
- Change it to decimal
∵ 2.5% = 2.5 ÷ 100 = 0.025
∴ The annual interest rate is 0.025
∵ The interest is compounded quarterly
∴ The interest rate per quarter = 0.025 ÷ 4 = 0.00625
∵ The early withdrawal fee is 3 months' interest
∵ You buy the CD for $1000
∵ A quarter year = 3 months
∴ The early withdrawal fee = 1000 × 0.00625 = $6.25
The early withdrawal fee on this account is $6.25
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Answer:
6:3:8
Step-by-step explanation:
We need to find the amount of:
Frogs= Joes has 6
Snakes= Joe has 3
Hamster= Joe has 8
So, the ratio of Joe's frogs and snakes to hamsters is 6: 8 : 3.
Hope that helped! :)
Answer:
Step-by-step explanation:
5 dimes and 8 quarters :)
The slope of that line is “undefined”. The slope of horizontal lines are 0 and the slope of vertical lines are undefined.
Answer:
Max is 9 ft above Brett
Step-by-step explanation:
Brett is 34 feet below the surface = -34
Max is 25 feet below the surface = -25
Subtract the heights
-25 - -34
-25 +34
9
Max is 9 ft above Brett
