Nine months ago Alexa deposited $7,000 in a 3-year CD. She has received $224.16 in interest. She
Question:
Nine months ago Alexa deposited $7,000 in a 3-year CD. She has received $224.16 in interest. She withdraws $1,000. This is before the CD matures, so she pays a $250 penalty. What is her balance after the withdrawal?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 50% (6 reviews)
Answer the balance after the withdrawal is 597416 Stepbystep explanatio...View the full answer
Answered By
Marvine Ekina
Marvine Ekina
Dedicated and experienced Academic Tutor with a proven track record for helping students to improve their academic performance. Adept at evaluating students and creating learning plans based on their strengths and weaknesses. Bringing forth a devotion to education and helping others to achieve their academic and life goals.
PERSONAL INFORMATION
Address: , ,
Nationality:
Driving License:
Hobbies: reading
SKILLS
????? Problem Solving Skills
????? Predictive Modeling
????? Customer Service Skills
????? Creative Problem Solving Skills
????? Strong Analytical Skills
????? Project Management Skills
????? Multitasking Skills
????? Leadership Skills
????? Curriculum Development
????? Excellent Communication Skills
????? SAT Prep
????? Knowledge of Educational Philosophies
????? Informal and Formal Assessments
0.00
0 Reviews
10+ Question Solved
Related Book For
Financial Algebra Advanced Algebra With Financial Applications
ISBN: 9781337271790
2nd Edition
Authors: Robert Gerver, Richard J. Sgroi
Question Posted:
Students also viewed these Mathematics questions
-
A $926,775 investment matures in 3 years , 7 months .find the maturity value if interest is 8.8% per annum compounded semi annually ?
-
After 3 months in her new role as Director of Human Resources (HR) at Customers First. Deborah Ketson feels confident she has identified the significant HR issues at the company. She has prioritized...
-
A six-year, $10,000 CD pays 6 percent interest annually and has a 6 percent yield to maturity. What is the duration of the CD? What would be the duration if interest were paid semiannually? What is...
-
Establish procedures to guarantee substantiation of claims for allowances. Think about how you would set up a process to ensure employee claims and allowances could be claimed. Write a step by step...
-
Do you think the BlackScholesMerton model assumptions of no dividends paid on the stock and constant interest rates are reasonable assumptions? If not, why do you think they are imposed?
-
Why can materials management be considered a balancing act?
-
Calculate \(\Delta G^{0}\) for the hydrogenation of ethylene at \(298 \mathrm{~K}\) using the following data: \(\Delta G_{f, 298}^{0}\) for \(\mathrm{C}_{2} \mathrm{H}_{4}=68.12 \mathrm{~kJ} /...
-
The Cash and Carry Building Supply Company has received the following order for boards in three lengths: Length ... Order (quantity) 7 ft. ..... 700 9 ft. .... 1,200 10 ft. ..... 300 The company has...
-
What do the examples of Tulip Mania, Beanie Babies, NFTs, etc. tell us about supply and demand and classic economic theory? Explain how this is similar to the Trobriand Islanders and their practice...
-
LaToya Company produces door pulls, which are inspected at the end of production. Spoilage may occur because the door pull is improperly stamped or molded. Any spoilage in excess of 3 percent of the...
-
Whitney deposits $9,000 for 2 years. She compares two different banks. State Bank will pay her 2.1% interest, compounded monthly. Kings Savings will pay her 2.01% interest, compounded continuously....
-
Joanne deposits $4,300 into a 1-year CD at a rate of 2.3%, compounded daily. a. What is her ending balance after the year, to the nearest cent? b. How much interest does she earn, to the nearest...
-
1. Could you argue that the other items, such as information regarding sexual harassment and discrimination complaints against Lee, might help a shareholder determine if the company was well run? 2....
-
What is a fair price of a 28-year semi-annual coupon bond, with a coupon rate of 5.15%, a face value of $1000, and a yield-to-maturity of 9.81%? What is the yield?
-
Studying marketing would be a super useful tool to have because you can almost have x-ray vision to see how different companies use different tactics to sell a variety of products. Having a knowledge...
-
Find the equation of the line through (-9,-5) which is parallel to the line y = -7x + 6. Give your answer in the form y = mx + b.
-
A $1,000 face value bond has a 12.0% coupon and pays interest annually. The bond matures in 4 years, and the annual market interest is 3%. What is the Macaulay duration?
-
A new employee at an organization has trouble accurately filling out the forms they are required to complete for her/his job. It would be correct to say this is caused by a lack of motivation and...
-
Finish the proof of Theorem 2.15.
-
Perform the operation by first converting the numerator and denominator to scientific notation. Write the answer in scientific notation. 7,200,00/0.000009
-
At Richardson Manufacturing Company, there are two factors that determine the cost of health care. If an employee makes less than $55,000 per year, he pays $40 per month for individual coverage and...
-
Eddie is a plant manager at North Salem Construction Company. He has been employed there for 20 years and will be retiring at the end of this year. His pension is calculated on the average of his...
-
As part of their employee benefits, all workers at Middletown Electronics receive a pension that is calculated by multiplying the number of years worked times 1.65% of the average of their three...
-
How can you use your understanding of diversity to develop your relationship-building skills in your healthcare career?,Explain ways in which religion can help or hinder individuals as they build...
-
A Quality Management System, often called a QMS, is a set of internal rules that are defined by a collection of policies, processes, documented procedures, and records. This system defines how a...
-
1. Mr. Alvis, the director of Match Lighting, has found himself with sorts of emails including customer complaints about incorrect order deliveries, periodic reports on products, stock, and sales,...
Study smarter with the SolutionInn App