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blondinia [14]
3 years ago
14

(t+p)4 answer plz help

Mathematics
1 answer:
swat323 years ago
7 0

Answer:

4t+4p

Step-by-step explanation:

(t+p)4 = 4(t+p)

4 times t plus 4 times p

4t+4p

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

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∵ 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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