Question: The National Bank of Mayville quotes an APY of 2 75
The National Bank of Mayville quotes an APY of 2.75 percent on a one-year money market CD sold to one of the small businesses in town. The firm posted a balance of $2,500 for the first 90 days of the year, $3,000 over the next 180 days, and $3,700 for the remainder of the year. How much in total interest earnings did this small business customer receive for the year?
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