An Investment Savings Account Offered by a Trust Company Pays

Short Answer

An Investment Savings account offered by a trust company pays a rate of 1.00% on the first $1,000 of daily closing balance, 1.75% on the portion of the balance between $1,000 and $3,000, and 2.25% on any balance in excess of $3,000. What interest will be paid for the month of January if the opening balance was $3678, $2800 was withdrawn on the 14^th of the month, and $950 was deposited on the 25^th of the month?