For Amounts between $10000 to $ 24,999 , a credit union pays a rate of
2.5% of term deposit with maturities in the 91-120 days range.However
Early redemption will result in the rate of 1.75% being applied. How much
more interest will a 91-day $ 20000 term deposit if its held until maturity
than if it was redeemed after 80 days?
If I understand the question correctly ....
interest on the 91 day deposit = 2000(91/365)(.025) = $12.47
interest on the 80 day deposit = 2000(80/365)(.0175) = $7.67
So take the difference.