Thomas wants to buy a CD for $500 that earns 3% APR and is compounded
quarterly. The CD mature...
Mathematics, 07.03.2020 05:40 epmeche05
Thomas wants to buy a CD for $500 that earns 3% APR and is compounded
quarterly. The CD matures in 3 years and the early redemption fee is 3
months' interest. If Thomas were to take his money out 3 months before the
CD matures, how much money would he get back, after the early redemption
fee?
Answers: 3
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