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3 years ago

Suppose you buy a CD for $1000 that earns 2.5% APR and is compounded

Mathematics

1 answer:

labwork [276]3 years ago

7 0

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Assume that if funds are withdrawn before the CD matures, the early withdrawal fee is 3 months' interest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

Learn more:

You can learn more about the interest in brainly.com/question/11149751

#LearnwithBrainly

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worty [1.4K]

Answer:

-8/12 and 8/12

Step-by-step explanation:

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3 years ago

The wavelength of red light in a spectrum is about 0.0000007 meters. Which

Nana76 [90]

Answer:

$0.0000007$

And if we count the number of zeros before the number 7, we can rewrite the number like this:

$7x10^{-7}$

We cansolve this problem also counting the number of positions that we need to move the decimal point to the right in order to obtain the first number (7)

And the best option would be:

B. 7 x 10-7

Step-by-step explanation:

For this case we have the following number given:

$0.0000007$

And if we count the number of zeros before the number 7, we can rewrite the number like this:

$7x10^{-7}$

We cansolve this problem also counting the number of positions that we need to move the decimal point to the right in order to obtain the first number (7)

And the best option would be:

B. 7 x 10-7

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3 years ago

The probability of picking two black marbles from a box at random without replacement is 1091 . The probability of drawing a bla

Nana76 [90]

The correct answer to the question above is 4/13. Below it shows how it's achieved...

EQUATION:
P(A|B) = P(A ∩ B)
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Step 1: Identify
P(B) = 5/14
P(A ∩ B) = 10/91

Step 2: Insert into the equation and Solve
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Use reciprocal to divide
10/91 × 14/5
Simplify the answer
140/455
Simplified (Final Answer)
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3 years ago

Read 2 more answers

Given the function f (x) = x² + 8x + 7, what are the zeros of f?

lutik1710 [3]

Answer:

x = - 7, x = - 1

Step-by-step explanation:

To find the zeros let f(x) = 0 , that is

x² + 8x + 7 = 0

Consider the factors of the constant term (+ 7) which sum to give the coefficient of the x- term (+ 8)

The factors are + 7 and + 1 , since

7 × 1 = + 7 and 7 + 1 = + 8 , then

x² + 8x + 7 = 0

(x + 7)(x + 1) = 0 ← in factored form

Equate each factor to zero and solve for x

x + 7 = 0 ⇒ x = - 7

x + 1 = 0 ⇒ x = - 1

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Answer:

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