Answer:
C
Step-by-step explanation:
The amount Adam invested in a six years CD was $12,000 was 7.1%
Adam made a withdrawal of $2500 early. The early withdrawal was worth eighteen months of interest on the amount withdrawn.
Monthly interest = 7.1% / 12
= 0.59%
The interest for 18 months will be
(7.1% /12)18
= 10.65%
The penalty for withdrawing early was 18 months worth the interest on the amount withdrawn
= 2500 * 10.65%
= 266.25
This means Adam needs to pay a penalty of $266.25 for withdrawing early
The first step is combining like terms. On the left side of the equation add all the numbers together that don't have and x (1/3 +2)
Hope this helped! Let me know if there is anything else I can do!
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