« 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 156 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?

About 60% of newborn infants in the United States are jaundiced; that is, they look yellow. Kernicterus is a form of brain damage caused by excessive jaundice. When babies begin to be affected by excessive jaundice and begin to have brain damage, they become excessively lethargic.

Did you know?

Never take aspirin without food because it is likely to irritate your stomach. Never give aspirin to children under age 12. Overdoses of aspirin have the potential to cause deafness.

Did you know?

Hypertension is a silent killer because it is deadly and has no significant early symptoms. The danger from hypertension is the extra load on the heart, which can lead to hypertensive heart disease and kidney damage. This occurs without any major symptoms until the high blood pressure becomes extreme. Regular blood pressure checks are an important method of catching hypertension before it can kill you.

Did you know?

The longest a person has survived after a heart transplant is 24 years.

Did you know?

The average person is easily confused by the terms pharmaceutics and pharmacology, thinking they are one and the same. Whereas pharmaceutics is the science of preparing and dispensing drugs (otherwise known as the science of pharmacy), pharmacology is the study of medications.

Annual net primary productivity on Earth. Annual net primary productivity on Earth.
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.
How to calculate simple interest (Part 4; P = I/rt) How to calculate simple interest (Part 4; P = I/rt)
How to calculate present value using the compound interest formula (Question 2) How to calculate present value using the compound interest formula (Question 2)
Correlations between scores on a psychology test and number of boiled kumquats eaten per month Correlations between scores on a psychology test and number of boiled kumquats eaten per month
Nine $10 000, 4% bonds with interest payable semi-annually and redeemable at par are purchased ... Nine $10 000, 4% bonds with interest payable semi-annually and redeemable at par are purchased ...
Video: Neural Reflex Arc Animation

For a complete list of videos, visit our video library