Mathematics

Norman

15 October, 03:21

Gabrielle wants to buy a CD for $300 that earns 3% APR and is compounded quarterly. The CD matures in 5 years and the early redemption fee is 3 months' interest. If Gabrielle wants to take her money out 3 months before the CD matures, how much money would she get back, after the early redemption fee?

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