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Irene invested $27,000 in a twelve-year CD bearing 8.0% interest, but needed to withdraw $6,000 after three years. If the CD’s penalty for early withdrawal was eighteen months’ worth of interest on the amount withdrawn, when the CD reached maturity, how much less money did Irene earn total than if she had not made her early withdrawal?

2 Answers

1 vote

Answer:

D. $5,040

Explanation:

Just got it right in the test

Irene invested $27,000 in a twelve-year CD bearing 8.0% interest, but needed to withdraw-example-1
User Blessan Kurien
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5 votes

Answer:

5,040

Explanation:

User Tamo
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