angeline2004
24.04.2020 •
Mathematics
Suppose you buy a CD for $1,000 that earns 2.5% APR and is compounded quarterly the CD matures in 5 years assume that if the funds are withdrawn before the CD matures the early Redemption fee is 3 months' interest what is the early Redemption fee on this account
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Ответ:
40
Step-by-step explanation:
let the number be 'x'
95 % of x = 38
(95 / 100)x =38
x = 38 × 100 / 95
x = 2 × 100 / 5
x = 2 × 20
x = 40