What Is the APY for a Savings Account with a $250

question 72

Multiple Choice

What is the APY for a savings account with a $250 balance that receives $12 interest for the year?

• A) 2.4%
• B) 4.8%
• C) 5%
• D) 10.4%
• E) 20.8%

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Definitions:

Fiscal Policy

Government strategies involving taxation and spending to influence the economy, aiming at achieving economic stability and growth.

Federal Budget

An annual financial statement presenting the government's proposed revenues and spending for the upcoming fiscal year.

Automatic Stabilizers

Economic policies and programs designed to offset fluctuations in a nation's economic activity without additional government intervention.

Recession

A noticeable drop in economic activity that affects the entire economy, enduring beyond several months, usually evidenced in real GDP, real income, employment, industrial production, and wholesale-retail sales.