Multiple Choice
A customer makes a savings deposit for 60 days.During that time he earns $11 in interest and maintains an average daily balance of $1,500.What is the annual percentage yield on this savings account?
A) 0.73%
B) 4.32%
C) 4.54%
D) 4.78%
E) None of the options is correct
Correct Answer:
Verified
Correct Answer:
Verified
Q34: When a customer is charged based on
Q35: A bank expects to raise $20 million
Q36: Depository institutions selling deposits to the public
Q37: A savings account evidenced only by a
Q38: The dominant holder of bank deposits in
Q40: The Federal law that requires U.S.depository institutions
Q41: Research indicates that at least half of
Q42: NOW accounts can be held by businesses
Q43: A bank has $200 million in checking
Q44: Recently,time deposits have been issued with interest