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Iteru [2.4K]
3 years ago
15

Suppose you buy a CD for $400 that earns 2.5% APR and is compounded quarterly. The CD matures in 5 years. Assume that if funds a

re withdrawn before the CD matures, the early withdrawal fee is 3 months' interest. What is the early withdrawal fee on this account?
A. $6.25
B. $2.50
C. $1.25
D. $3.13
Mathematics
2 answers:
Step2247 [10]3 years ago
7 0
The withdrawal fee will not take the compund rate, so, you should apply the usual formula for not compound rate, <span>
400⋅0.025/12⋅3=2.50

</span><span>Where we divide the APR to adapt to a monthly base, and then multiply the number of months.</span>
Reika [66]3 years ago
3 0

The answer is $2.50

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Find the largest positive integer that will divide 542, 436, 398 leaving reminders 7, 11, 15 respectively
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Here in this question for finding the numbers that will divide 398, 436 and 542 leaving remainder 7, 11 and 15 respectively we have to first subtract the remainder of the following. By this step we find the highest common factor of the numbers.

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2) use the numerators when the denominators are the same

  \dfrac{14}{15}\div\dfrac{7}{5}=\dfrac{14}{15}\div\dfrac{21}{15}\\\\=\dfrac{14}{21}=\boxed{\dfrac{2}{3}}

6 0
3 years ago
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