1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
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withdrawn before the CD matures, the early withdrawal fee is 3 months' interest.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.

You might be interested in
Today Ian wants to run less than 7/12 mile. Write a fraction with a denominator of 4 to respresent a distance that is less than
Mkey [24]

Lan wants to run less than 7/12 miles. It says to find out a fraction with a denominator of 4 and which is less than 7/12.

Let's assume the required fraction to be x/4 such that x/4 is less than 7/12.

\frac{x}{4} < \frac{7}{12} \\\\ 3*\frac{x}{4} < \frac{7}{12}*3 \\\\ \frac{3x}{4} < \frac{21}{12} \\\\ \frac{3x}{4} < \frac{7}{4} \\\\ 3x < 7

So we must have multiples of 3's that should be less than 7, we have only two choices 3 < 7 or 6 < 7.

It means x = 1 or x = 2, and the required fraction would be 1/4 or 2/4.

2/4 is simplified to 1/2 and the question says to have denominator 4.

Hence, final answer is 1/4

5 0
2 years ago
The maximum flow of water in a pipe is modeled by the formula Q=Av, where A is the cross-sectional area of the pipe and V is the
Ira Lisetskai [31]
For this case we have the following equation:
 Q = Av
 Where the area is given by:
 A = pi * r ^ 2
 A = pi * (d / 2) ^ 2
 A = (pi / 4) * d ^ 2
 Substituting we have:
 Q = ((pi / 4) * d ^ 2) v
 From here, we clear the diameter:
 d = root ((4 / pi) * (Q / v))
 Substituting values we have:
 d = root ((4 / pi) * (50/600))
 d = 0.36 feet
 Answer:
 
The diameter of a pipe that allows a maximum flow of 50ft ^ 3 / min of water flowing at a velocity of 600ft / min is:
 
d = 0.36 feet
7 0
3 years ago
What is the answer of -16 divided by 8 times 8 plus -7
BlackZzzverrR [31]

Answer:

-16

Step-by-step explanation:

5 0
3 years ago
Tamica is making a fruit salad. She spends $3.30 on 6 kiwis, $8.40 on 3 pounds of grapes and $8.54 for 7 bananas.
Ludmilka [50]

Answer: how come you don't know the answer what grade are you in

6 0
2 years ago
Read 2 more answers
Solve for x 5 – 57− 2 = 63 please help
umka2103 [35]
5x - 2x = 63 + 57
3x = 120
x = 40
4 0
3 years ago
Other questions:
  • Hannah says that 2.11 is a rational number.Gus says that 2.11 is a repeating decimal.Who is correct and why?
    6·1 answer
  • The sum of three consecutive numbers is 144. What is the smallest of the three numbers ?
    8·2 answers
  • Find any values of x that must be excluded from the domain. This part really confuses me.
    13·2 answers
  • What does the graph of y=-3sin2x look like
    15·1 answer
  • Plz help me ... thanks
    7·1 answer
  • Your cousin earned $4.80 last week by recycling an unknown number of cans and 7 plastic bottles. The cans were worth $0.05 each
    12·2 answers
  • I thought I got this right but I guess not:/
    11·2 answers
  • 2x = 3Y=4z=12 find the value of x square+y square + Z Square
    15·2 answers
  • B. There are 4 quarts in a gallon and 4 cups in<br> a quart. How many cups are in one serving?
    6·1 answer
  • HELP YALL PLEASE! I WILL MARK BRAINIEST TO WHOEVER IS CORRECT!!
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!