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a CD for $1,000 that earns 2.5% APR and is compounded quarterly the CD matures in 5 years assume that if the funds are withdrawn before the CD matures the early Redemption fee is 3 months'

asked Apr 18, 2021 133k views

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5 votes

Answer:

Step-by-step the cd is 1000

Fedor Skrynnikov answered Apr 20, 2021

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4 votes

Answer:

the correct answer is $6.25

Explanation:

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

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