Suppose you buy a CD for $300 that earns 3% APR and is compounded
quarterly. The CD matures in 5 years. Assume that if funds are withdrawn
before the CD matures, the early redemption fee is 3 months' interest. What is
the early redemption fee on this account?
A. $1.50
B. $6.00
C. $2.25
D. $3.75
