## Thomas wants to buy a CD for $500 that earns 3% APR and is compounded quarterly. The CD matures in 3 years and the early redemption fe

Question

Thomas wants to buy a CD for $500 that earns 3% APR and is compounded

quarterly. The CD matures in 3 years and the early redemption fee is 3

months’ interest. If Thomas were to take his money out 3 months before the

CD matures, how much money would he get back, after the early redemption

fee?

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Math
1 week
2021-10-08T05:03:24+00:00
2021-10-08T05:03:24+00:00 1 Answer
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## Answers ( )

Answer:$539.08

Step-by-step explanation: