A certificate of deposit will often result in a penalty for withdrawing funds before the maturity date If the penalty involves two months of interest, what would be the amount for early withdrawal on a $20,000, 6 percent CD ...

A certificate of deposit will often result in a penalty for withdrawing funds before the maturity date.

Question:

A certificate of deposit will often result in a penalty for withdrawing funds before the date. If the penalty involves two months of interest, what would be the amount for early withdrawal on a $20,000, 6 percent CD?
Maturity
Maturity is the date on which the life of a transaction or financial instrument ends, after which it must either be renewed, or it will cease to exist. The term is commonly used for deposits, foreign exchange spot, and forward transactions, interest...