Question: Pls answer all five questions for THUMBS UP. Please show steps since I need to know how we got the answer. thanks a) A customer
Pls answer all five questions for THUMBS UP. Please show steps since I need to know how we got the answer. thanks
a) A customer makes a savings deposit for 45 days. During that time he earns $5 in interest and maintains an average daily balance of $1,000. What is the annual percentage yield on this savings account?
b) A customer has a savings account for one year. During the year he earns $65.50 in interest. For 180 days he has $2,000 in the account and for another 180 days he has $1,000 in the account. What is the annual percentage yield on this savings account?
c) A bank quotes an APY of 8%. A small business that has an account with the bank had $2,500 in their account for half the year and $5,000 in their account for the other half of the year. How much in total interest earnings did the business make during the year?
d) 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?
e) A customer makes a savings deposit for 15 days. During that time he earns $15 in interest and maintains an average daily balance of $2,200. What is the annual percentage yield on the savings account?
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