« previous next »

Author Question: Susan had 35,000 on deposit in a six month CD paying 6.25 simple annual interest. At the end of ... (Read 77 times)

vicky

  • Hero Member
  • *****
  • Posts: 586
on: Jun 24, 2018
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?


elyse44

  • Sr. Member
  • ****
  • Posts: 319
Reply #1 on: Jun 24, 2018
Answer to Question 1

182.29

Answer to Question 2

2,075.70


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

The first documented use of surgical anesthesia in the United States was in Connecticut in 1844.

Did you know?

As of mid-2016, 18.2 million people were receiving advanced retroviral therapy (ART) worldwide. This represents between 43–50% of the 34–39.8 million people living with HIV.

Did you know?

Astigmatism is the most common vision problem. It may accompany nearsightedness or farsightedness. It is usually caused by an irregularly shaped cornea, but sometimes it is the result of an irregularly shaped lens. Either type can be corrected by eyeglasses, contact lenses, or refractive surgery.

Did you know?

Cutaneous mucormycosis is a rare fungal infection that has been fatal in at least 29% of cases, and in as many as 83% of cases, depending on the patient's health prior to infection. It has occurred often after natural disasters such as tornados, and early treatment is essential.

Did you know?

Addicts to opiates often avoid treatment because they are afraid of withdrawal. Though unpleasant, with proper management, withdrawal is rarely fatal and passes relatively quickly.

Urinalysis. During a simple urinalysis, a stick with colored blocks is dipped into a urine specimen. Urinalysis. During a simple urinalysis, a stick with colored blocks is dipped into a urine specimen.
A Simple Neural Model of Classical Conditioning A Simple Neural Model of Classical Conditioning
6 month old baby in highchair eating 6 month old baby in highchair eating
You make 4 semi-annual deposits starting at $350 and increasing at a constant rate of 2.14%. ... You make 4 semi-annual deposits starting at $350 and increasing at a constant rate of 2.14%. ...
A $50 000 bond bearing interest at 6.5% bond payable semi-annually matures in 10 years. If it ... A $50 000 bond bearing interest at 6.5% bond payable semi-annually matures in 10 years. If it ...
Micrographs and drawings of three types of simple epithelia, with examples of their functions and lo Micrographs and drawings of three types of simple epithelia, with examples of their functions and lo
Video: Secretin (inhibiting gastric acid secretion), Cholecystokinin (fat digestion) & Cholecystokinin

For a complete list of videos, visit our video library