mevslinecamille mevslinecamille

02-04-2017
Mathematics

contestada

Suppose you buy a CD for $900 that earns 8% 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 Assume that if funds are withdrawn before the CD matures, the early withdrawal fee is 3 months' interest.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?

Respuesta :

Aliwohaish12 Aliwohaish12

02-04-2017

A=p(1+i/m)^mn
A=900×(1+0.08÷4)^(4×3/12)
A=918
I=900-918=18
So the early withdrawal fee is 18

Answer Link

Otras preguntas

Robyn adopted a child who is exactly 28 years younger than her. In one year's time, Robyn will be 3 times as old as her child will be. How old is Robyn now?

Robyn adopted a child who is exactly 28 years younger than her. In one year's time, Robyn will be 3 times as old as her child will be. How old is Robyn now?

The greenhouse effect and global warming; how are humans making this effect stronger? How do we use photosynthesis to counteract this effect?

P(r)= 0.5t^4 + 3.45t^3 - 96.65t^2 + 347.7t, when 0 < t < 6 in this function above, P(t) is the amount of medication (in mg) in the blood stream at time t

The distance from point A(x, 1) to point B(0, 7) is equal to 10. Calculate the value of the abscissa x.

24. At what type of plate boundary interaction is new land formed when magma pushes up from the mantle and cools? Odivergent boundary transform boundary O conve

Consider the graph below Find the y-intercept and slope of the line. Fill in the blanks in the statement. The y-intercept of the line is ______, and the slope o

Un atome de cuivre a une masse de 10-25 kg. Quel est le nombre d'atomes de cuivre dans : 1. un kilogramme de cuivre? 2. un gramme de cuivre?

Parallel lines r and s are intersected by a transversal line m. Label a pair of corresponding angle measures (6x +11) and (3y+8)°. The angle labeled (3y + 8)° i

You make time and a half for all overtime. You make $9.00 an hour for regular hours. What is your overtime hourly rate of pay?