zzscholl798 zzscholl798

24-04-2020
Mathematics

contestada

Suppose you buy a CD for $1,000 that earns 2.5% APR and is compounded quarterly the CD matures in 5 years assume that if the funds are withdrawn before the CD matures the early Redemption fee is 3 months' interest what is the early Redemption fee on this account

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Avanhouten1 Avanhouten1

24-04-2020

Answer:

Step-by-step the cd is 1000

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saturnrose42 saturnrose42

28-05-2022

Answer:

the correct answer is $6.25

Step-by-step explanation:

i just took the quiz and got this question correct, hope this helps!

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