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- Assume that if funds are withdrawn before the CD matures, the early withdrawal fee is 3 months' interest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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not enough information to solve it as there are two unknowns in one inequality
Answer:
-9 1/4
Step-by-step explanation:
<span>Remember the ratios
Linear = a : b
Area = a^2 : b^2
Volume = a^3 : b^3
Hence area ratios are 1008 : 1372
Becomes linear ratios of Sqrt(1008) : sqrt(1372) :: 31.749 : 37.040
Volume ratios becomes 31.749^3 : 37.040^3 :: 32002.96 : 50817.46
Hence
32002.96 / 50817.46 = Vol (S) / 1801 cm^3
Vol(s) = 32002.96 X 1801 / 50817.46 = 1134.20cm^3 ( nearest hundredth).
</span>
I think this is the correct answer: * Zc x (sigma/sqrt of n)
c= .95 (Zc of 1.96)
0.711*
