The early withdrawal fee on this account is $6.25
Step-by-step explanation:
Suppose you buy a CD for $1000
- It earns 2.5% APR and is compounded quarterly
- The CD matures in 5 years
- Assume that if funds are withdrawn before the CD matures, the early withdrawal fee is 3 months' interest
We need to find the early withdrawal fee on this account
∵ The annual interest is 2.5%
- Change it to decimal
∵ 2.5% = 2.5 ÷ 100 = 0.025
∴ The annual interest rate is 0.025
∵ The interest is compounded quarterly
∴ The interest rate per quarter = 0.025 ÷ 4 = 0.00625
∵ The early withdrawal fee is 3 months' interest
∵ You buy the CD for $1000
∵ A quarter year = 3 months
∴ The early withdrawal fee = 1000 × 0.00625 = $6.25
The early withdrawal fee on this account is $6.25
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Answer:
-2
Step-by-step explanation:
4x:3=6:5.
4x/3=6/5
4x × 5=6×3
20 X=18
X=18-20
X=-2
Answer:
I had x to be 2
Step-by-step explanation:
a square has all it side to be equal
so 10x=6x+8
you will group like terms 10x-6x=8
4x=8 you divide both side by the coefficient of x which is four so X=2
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