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- Assume that if funds are withdrawn before the CD matures, the early withdrawal fee is 3 months' interest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
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Answer:
11.31 units
Step-by-step explanation:
a^2 + b^2 = c^2
8^2 + 8^2 = c^2
64 + 64 = c^2
128 = c^2
Opposite of exponents is square roots, and we need to get rid of that exponent in c^2, meaning we find the square root.
= c
c = 11.31 units
Make it into a simultaneous equation:
5p + 4e = 7.65
4p + 5e = 7.20
Use adding/subtracting formula
The cost of an eraser is $1.44
She can have 3 groups of tens and 8 groups of ones
