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

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 OA 507 58 OB 511 33 OC 539 08 OD 542 43

Kunduz · Accepted Answer

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