Lucy Lane maintains a savings deposit with Monarch Credit Union. This past year Lucy received $10.75 in

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Lucy Lane maintains a savings deposit with Monarch Credit Union. This past year Lucy received $10.75 in interest earnings from her savings account. Her savings deposit had the following average balance each month:

January	$450	July	$450
February	350	August	425
March	300	September	550
April	550	October	600
May	225	November	625
June	400	December	500

Requirement :

What was the annual percentage yield (APY) earned on Lucy’s savings account?

Related Book For answer-question

Bank Management and Financial Services

ISBN: 978-0078034671

9th edition

Authors: Peter Rose, Sylvia Hudgins

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Posted Date: Dec 21, 2023 05:50 AM

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Lucy Lane maintains a savings deposit with Monarch Credit Union. This past year Lucy received $10.75 in

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Bank Management and Financial Services

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