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Mathematics, 05.02.2020 00:51 tayacall9362

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 assume that if funds are withdrawn before the cd matures, the early withdrawal fee is 3 months' interest.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

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