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Rachel invested $15,000 in a nine-year CD giving 8.5% interest, but needed to withdraw $4,000 after two years. If the CD's penalty for withdrawal was six months' worth of interest on the amount withdrawn, how much money did Rachel have when the CD reached maturity, not including the amount she withdrew? Round answer to the nearest whole dollar.

a.
$19,925
b.
$8,795
c.
$19,795
d.
$12,965

User CraigP
by
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2 Answers

2 votes

Answer:A

Explanation:

A is correct

User Lau
by
6.9k points
3 votes

Answer:

A on edge-nuity


User Nick Chammas
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6.9k points