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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a CD for $1,000 that earns 2.5% APR and is compounded quarterly the CD matures in 5 years assume that if the funds are withdrawn before the CD matures the early …

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a CD for $1,000 that earns 2.5% APR and is compounded quarterly the CD matures in 5 years assume that if the funds are withdrawn before the CD matures the early …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a CD for $1,000 that earns 2.5% APR and is compounded quarterly the CD matures in 5 years assume that if the funds are withdrawn before the CD matures the early Redemption fee is 3 months' interest what is the early Redemption fee on this account

asked
User Atomless
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8.1k points

2 Answers

5 votes

Answer:

Step-by-step the cd is 1000

answered
User Fedor Skrynnikov
by
8.0k points
4 votes

Answer:

the correct answer is $6.25

Explanation:

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

answered
User Manuel De Leon
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8.3k points
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