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Reptile [31]
3 years ago
5

Suppose you buy a CD for $500 that earns 3% 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withdrawn before the CD matures, the early withdrawal fee is 3 months' interest.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?
Mathematics
1 answer:
DerKrebs [107]3 years ago
6 0

Answer:

  $3.75

Step-by-step explanation:

I = Prt

I = $500·0.03·(3/12) = $3.75

The early-withdrawal fee is $3.75 for the first quarter.

_____

Each quarter after that, the principal amount will be larger, so the interest penalty will be larger. The fee would be the amount of interest that would be credited at the end of the next quarter, or at the end of the quarter currently in progress.

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LuckyWell [14K]

Answer:

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3 0
3 years ago
Find the distance between the points with the given coordinates (-8,-6),(4,10)​
Serggg [28]

Hello from MrBillDoesMath!

Answer:

20

Discussion:

Let (x1,y1) = (-8, -6) and (x2,y2) = (4,10). Per the distance formula,

Distance = sqrt (  (x1-x2)^2 + (y1-y2)^2 )  so

Distance = sqrt (  (-8-4)^2 + (-6-10)^2 )

                = sqrt( (12)^2 + (-16)^2 )

                = sqrt( 144     + 256 )

                = sqrt(400)

                = 20

Thank you,

MrB

3 0
3 years ago
Read 2 more answers
A ball is thrown at an initial height of 7 feet with an initial upward velocity at 27 ft/s. The balls height h (in feet) after t
lianna [129]

Answer:

The height of ball is 17 ft at t=0.55 and t=1.14.

Step-by-step explanation:

The general projectile motion is defined as

y=-16t^2+vt+y_0

Where, v is initial velocity and y₀ is initial height.

It is given that the initial height is 7 and the initial upward velocity is 27.

Substitute v=27 and y₀=7 in the above equation to find the model for height of the ball.

h(t)=-16t^2+27t+7

The height of ball is 17 ft. Put h(t)=17.

17=-16t^2+27t+7

0=-16t^2+27t-10

On solving this equation using graphing calculator we get

t=0.549,1.139

t\approx 0.55,1.14

Therefore the height of ball is 17 ft at t=0.55 and t=1.14.

3 0
3 years ago
57 percent of 109 please answer my question
fredd [130]
You can do 109 divide by 100 then multiply it by the percent you need 109/100= 1.09*57=62.13
5 0
3 years ago
Read 2 more answers
Youareinthemiddleofalargefield.Youwalkinastraight line for 100 m, then turn left and walk 100 m more in a straight line before s
uranmaximum [27]

Answer

That doesnt make a complete triangle.

Step-by-step explanation:

The hypotenuse cannot be the same length as the other two sides of the triangle.

8 0
3 years ago
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