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%

---

Definitions:

Null Hypothesis

A default hypothesis that there is no significant difference or effect, used as a starting point for statistical hypothesis testing.

Alternative Hypotheses

A statement that directly contradicts the null hypothesis, suggesting that there is a significant difference or effect.

Population Mean

The average value of all the members of a population.

F Table

A table used in statistics to determine the critical values of the F-distribution, useful in analysis of variance (ANOVA).