Anthony wants to buy a CD for $400 that earns 2.5% APR and is compounded
quarterly. The CD matures in 3 years. He will be paid the interest he earns
each quarter. How much interest will Anthony have earned on this CD after
the first quarter?
A. $10.00
B. $3.25
c. $1.25
D. $2.50
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Home » Mathematics » Anthony wants to buy a CD for $400 that earns 2.5% APR and is compounded quarterly. The CD matures in 3 years. He will be paid the interest he earns each quarter. How much interest will Anthony have earned on this CD after the first quarter? A. $10.