Mathematics, 31.01.2020 20:00 Fangflora3

Suppose you buy a cd for $500 that earns 3% apr and is compounded quarterly. the cd matures in 3 years. assume that if funds are withdrawn before the cd matures, the early withdrawal fee is 3 months' interest. what is the early withdrawal fee on this account?
a. $5.00
b. $2.50
c. $1.25
d. $3.75

Answers: 3

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Suppose you buy a cd for $500 that earns 3% apr and is compounded quarterly. the cd matures in 3 yea...

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More questions: Mathematics Another questions

Suppose you buy a cd for $500 that earns 3% apr and is compounded quarterly. the cd matures in 3 years. assume that if funds are withdrawn before the cd matures, the early withdrawal fee is 3 months' interest. what is the early withdrawal fee on this account? a. $5.00 b. $2.50 c. $1.25 d. $3.75

Answers

Another question on Mathematics

Suppose you buy a cd for $500 that earns 3% apr and is compounded quarterly. the cd matures in 3 years. assume that if funds are withdrawn before the cd matures, the early withdrawal fee is 3 months' interest. what is the early withdrawal fee on this account?
a. $5.00
b. $2.50
c. $1.25
d. $3.75