Penny Invested $4,500 on October 28 at a Floating Rate

Short Answer

Penny invested $4,500 on October 28 at a floating rate of interest that initially stood at 6.3%. Effective December 2, the rate dropped by ½% and then it declined another ¼% effective February 27. What total amount of principal plus interest will Penny receive when the investment matures on March 15? Assume that the new year is a leap year.