Rachel invested $15,000 in a nine-year CD giving 8.5% interest, but needed to withdraw $4,000 after two years. If the CD's penalty for withdrawal was six months' worth of interest on the amount withdrawn, how much money did Rachel have when the CD reached maturity, not including the amount she withdrew? Round answer to the nearest whole dollar.a.$19,925b.$8,795c.$19,795d.$12,965

Answer:Option a )  $19,925Step-by-step explanation:$15,000 was invested for 9 years and then $4,000 was withdrawn after 2 years. So, $11,000 was invested for entire 9 years and $4,000 was invested for 2 years.Interest on $11,000 for 9 years @ 8.5 % = 11,000 X 9 X 8.5 % = $8,415Interest on $4,000 for 2 years @ 8.5 % = 4,000 X 2 X 8.5 % = $680Penalty for withdrawing $4,000 = 4000 X 8.5 % X 0.5 = $170Total amount that Rachel will get on maturity = $11,000 + total interest - penalty = $11,000 + $8,415 + $680 - $170 = $19,925Hope it helps.Thank you !!