Depository Institutions Selling Deposits to the Public in the United

Multiple Choice

Depository institutions selling deposits to the public in the United States must quote the rate of return pledged to the owner of the deposit,which reflects the customer's average daily balance kept in the deposit.This quoted rate of return is known as:

A) annual percentage rate (APR) .
B) annual percentage yield (APY) .
C) daily deposit yield (DDY) .
D) daily average return (DAR) .
E) None of the options is correct.