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

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?

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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 wer…

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