How much money will you earn if you open a 29-month CD account with $10,000 and invest your money until it fully matures? Suppose you pull your money out of the account after 20 months. How much will you have earned after penalties? 12 pts- Calculations and results. Show your calculations and write all results in complete sentences. Be specific as possible. b. Before the virus pandemic, banks were offering pretty good Certificate of Deposit rates. It is always best to shop around for the banks with the highest interest rates by visiting their website or speaking with an agent. Interest rates usually vary from 1% to 4% with a minimum deposit that can range from $500 to $10,000. From my personal experience credit unions often offer the highest rates. At one time, a local credit union here in the Las Vegas Valley, First Credit Union advertised good rates, which are found below. The interest is compounded daily. Minimum Deposit Term Length answers On a PDF Use a cover pange APY Average Percentage Yield Interest Rate $10,000 $10,000 $10,000 9 months 3.5% 19 months. 4% 29 months 4% Withdrawals made after the first 7 days of account opening are subject to the Early Withdrawal Fee. Original CD Term Length Terms 3 months or less Terms 3 months through 12 months Terms 12 months through 24 months Terms over 24 months Penalty 1 months' interest 3 months' interest 6 months' interest 12 months' interest