Larissa invested $19,000 in an eleven-year CD giving 7.5% interest, but needed to withdraw $2,500 after four years. If the CD's penalty for early withdrawal was one year's worth of interest on the amount withdrawn, how much money did Larissa have when the CD reached maturity, not including the amount she withdrew?

a.

$13,612.50

b.

$30,675.00

c.

$30,112.50

d.

$14,175.00

Question

Mathematics

Katrina

25 September, 22:40

Larissa invested $19,000 in an eleven-year CD giving 7.5% interest, but needed to withdraw $2,500 after four years. If the CD's penalty for early withdrawal was one year's worth of interest on the amount withdrawn, how much money did Larissa have when the CD reached maturity, not including the amount she withdrew?

a.

$13,612.50

b.

$30,675.00

c.

$30,112.50

d.

$14,175.00

+4

Answers (1)

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Trevor Frederick · Answer 1

Larissa invested $19,000 in an eleven-year CD giving 7.5% interest, but needed to withdraw $2,500 after four years. If the CD’s penalty for earlywithdrawal was one year’s worth of interest on the amount withdrawn, how much money did Larissa have when the CD reached maturity, not including the amount she withdrew