Business, 19.09.2019 21:40 akfroggyman6591
Laurie bought a 5-year cd for $6800 with an apr of 2.8%, compounded quarterly, but she wants to take all her money out 9 months early. the early redemption fee for the cd is 3 months' interest on the original principal. laurie determine how much money she will end up earning in interest on the cd.
what is the periodic interest rate of laurie's cd? how many quarters will laurie have kept her money in the cd before she takes all her money out?
how much will laurie's cd be worth when she takes all her money out (before the fee is applied)?
how much will laurie have earned in interest before the fee is applied?
how much will laurie get charged as an early redemption fee for taking all her money out 9 months early?
how much will laurie have earned in interest after the fee is applied?
Answers: 1
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Laurie bought a 5-year cd for $6800 with an apr of 2.8%, compounded quarterly, but she wants to take...
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