Homework Clinic
Social Science Clinic => Business => Topic started by: vicky on Jun 24, 2018
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Susan had 35,000 on deposit in a six month CD paying 6.25 simple annual interest. At the end of three months when she cashed out the CD, her penalty for early withdrawal was one month's interest. How much of a penalty did Susan have to pay?
Question 2
Maya opened a savings account that pays 3.75 annual interest compounded semiannually. If she deposited 2,000 into the account and made no other deposits or withdrawals, how much money did she have in the account after 1 year?
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Answer to Question 1
182.29
Answer to Question 2
2,075.70