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0/1 POINTS || PREVIOUS ANSWERS AUFEXC4 11.1.046 MY NOTES | ASK YOUR TEACHER If you withdraw part of your money from a certificate of deposit before the date of maturity, you must pay an interest penalty. Suppose you invested $7000 in a one-year certificate of deposit paying 8.8% Interest. After 6 months, you decide to withdraw $7000. Your interest pen is 3 months simple interest on the $7000. What interest penalty do you pay? (Round your answer to two decimal places.) Need Help? Submit Answer Practice Another Vers 2/4 POINTS | PREVIOUS ANSWERS AUFEXCA 11.1.047. MY NOTES ASK YOUR TEACHER $11,000 is borrowed for 140 days at an 8% interest rate. Calculate the maturity value by the exact method and by the ordinary method. (Round your answers to two decimal places.) exact method 33753 X ordinary method Which method yields the greater maturity value? exact method ordinary method Who benefits from using the ordinary method rather than the exact method, the borrower or the lender? the borrower the lender Need Help? With Talk to a Tor