A Customer Makes a Savings Deposit for 45 Days

question 71

Multiple Choice

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?

• A)0.5%
• B)4.13%
• C)4.07%
• D)4.5%
• E)None of the options is correct

Comprehend the effects of share dividends and bonus issues on equity.

Understand the process and impact of declaring and paying dividends.

Understand the importance of communication etiquette in a professional setting.

Recognize the significance of respecting privacy and confidentiality in workplace communications.

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Definitions:

Significance Level

The chance of incorrectly dismissing the null hypothesis in a statistical examination, usually symbolized by alpha, when it is in fact correct.

Actual Temperatures

Measurements of the current temperature of an environment, object, or substance.

One-sample T Statistic

A statistical measure used to compare the mean of a sample to a known value, typically to test hypotheses.

Null Hypothesis

A default hypothesis that there is no significant difference or effect, often to be tested against an alternative hypothesis.