Domonique1128
Answered

If you had invested only 1 month´s worth of the emergency fund in the savings account at a 3.15% APR and the remainder in the 45-day CD at a 4.65% APR. What is the difference in the interest earned in 45 days when compared with question three? Question three was- Your fixed expenses are $1,500.45 a month. Your emergency fund has four month´s worth of coverage. You invest half in a savings account with an interest rate of 3.15% APR and the other half in a 45-day CD with an interest rate of 4.65% APR. How much is your total interest in 45 days? I got $28.85 for this.

Verified Answer :

meerkat18

I answered this question before.

Given:
Fixed monthly expenses: $1,500.45
Emergency fund is 4 month's worth: 1,500.45 x 4 = 6,001.80

Question 3:
Half of the emergency fund is invested in savings account with interest rate 3.15% APR
Half of the emergency fund is invested in 45-day CD with an interest rate of 4.65% APR.

6,001.80 1/2 = 3,000.90 3.15% 45/360 = 11.82
6,001.80 1/2 = 3,000.90 4.65% 45/360 = 17.44
                                                                                 29.26


1 month's worth of the emergency fund in the savings account and the remainder in the 45-day CD.

6,001.80 1/4 = 1,500.45 3.15% 45/360 =   5.91
6,001.80 3/4 = 4,501.35 4.65% 45/360 = 26.16
                                                                                  32.07

feralove10

Answer:

2.79

Step-by-step explanation:

I just took it!

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