Your fixed expenses are $1,763.25/month. You saved 6 months' worth for an emergency fund in a savings account earning a 4.5% APR over 3 years. After 3 years, you withdrew $4,360.00 because of losing your job. What is your balance after the withdrawal? (1 point)

Question

Your fixed expenses are $1,763.25/month. You saved 6 months' worth for an emergency fund in a savings account earning a 4.5% APR over 3 years. After 3 years, you withdrew $4,360.00 because of losing your job. What is your balance after the withdrawal?  (1 point)

anonymous · Answer

$1,763.25/month * 6 months

anonymous · Answer

You save for 3 years and don't add any money to the account so it just gains the 4.5% APR

anonymous · Answer

Then you take the money from the amount you deposited to the fund times 4.5% and add it to the account

anonymous · Answer

Then subtract the amount you withdrew and you are left with the leftover balance

anonymous · Answer

$$$1,763.25 \times 6 = $10,579.50$$
$$$10,579.50 + $10,579.50 * .045 = $11,055.58$$
$$ $11,055.58 - $4,360.00 = $6,695.58$$

$6,695.58 is left in your account.

anonymous · Answer

How much interest did you lose in 1 month because of the withdrawal?

anonymous · Answer

Can someone answer ^^^^^^ Question ?How much interest did you lose in 1 month because of the withdrawal?