If you withdraw part of your money from a certificate of deposit before the date of maturity, you must pay an interest penalty. Suppose you invested $9000 in a one-year certificate of deposit paying 8.2% interest. After 6 months, you decide to withdraw $9000. Your interest penalty is 3 months simple interest on the $9000. What interest penalty do you pay? (Round your answer to two decimal places.)
If you withdraw part of your money from a certificate of deposit before the date of maturity, you must pay an interest penalty. Suppose you invested $9000 in a one-year certificate of deposit paying 8.2% interest. After 6 months, you decide to withdraw $9000. Your interest penalty is 3 months simple interest on the $9000. What interest penalty do you pay? (Round your answer to two decimal places.)
Chapter9: Sequences, Probability And Counting Theory
Section9.4: Series And Their Notations
Problem 56SE: To get the best loan rates available, the Riches want to save enough money to place 20% down on a...
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If you withdraw part of your money from a certificate of deposit before the date of maturity, you must pay an interest penalty. Suppose you invested $9000 in a one-year certificate of deposit paying 8.2% interest. After 6 months, you decide to withdraw $9000. Your interest penalty is 3 months simple interest on the $9000. What interest penalty do you pay? (Round your answer to two decimal places.)
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