« 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 182 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?

To prove that stomach ulcers were caused by bacteria and not by stress, a researcher consumed an entire laboratory beaker full of bacterial culture. After this, he did indeed develop stomach ulcers, and won the Nobel Prize for his discovery.

Did you know?

Sperm cells are so tiny that 400 to 500 million (400,000,000–500,000,000) of them fit onto 1 tsp.

Did you know?

Stroke kills people from all ethnic backgrounds, but the people at highest risk for fatal strokes are: black men, black women, Asian men, white men, and white women.

Did you know?

Thyroid conditions may make getting pregnant impossible.

Did you know?

Blastomycosis is often misdiagnosed, resulting in tragic outcomes. It is caused by a fungus living in moist soil, in wooded areas of the United States and Canada. If inhaled, the fungus can cause mild breathing problems that may worsen and cause serious illness and even death.

Susan Moller Okin (1946–2004). Susan Moller Okin (1946–2004).
How to calculate simple interest (Part 4; P = I/rt) How to calculate simple interest (Part 4; P = I/rt)
Growing Interest in Sugar-Free Foods and Beverages Growing Interest in Sugar-Free Foods and Beverages
AAC, Inc. is planning to issue $5,000,000 in 180-day maturity notes paying a rate of 12 percent ... AAC, Inc. is planning to issue $5,000,000 in 180-day maturity notes paying a rate of 12 percent ...
An inventory record sheet shows a balance on hand of 972. During the month units sold were 111, ... An inventory record sheet shows a balance on hand of 972. During the month units sold were 111, ...
Biological control agent: a commercially raised parasitoid wasp about to deposit a fertilized egg in Biological control agent: a commercially raised parasitoid wasp about to deposit a fertilized egg in
Video: Electrical Conduction System of the Heart

For a complete list of videos, visit our video library