Mathematics, 09.04.2020 21:35 alexandrafaber93061
Orlando invested $16,000 in an eight-year CD bearing 6.5% simple annual interest, but needed to withdraw $3,500 after five
years. If the CD's penalty for early withdrawal was one year's worth of interest on the amount withdrawn, when the CD
reached maturity, how much less money did Orlando earn total than if he had not made his early withdrawal?
a $227.50
b. $682.50
c. $910.00
d. $455.00
Answers: 2
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Orlando invested $16,000 in an eight-year CD bearing 6.5% simple annual interest, but needed to with...
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