For Amounts Between $10,000 and $24,999, a Credit Union Pays

question 84

Short Answer

For amounts between $10,000 and $24,999, a credit union pays a rate of 1.25% on term deposits with maturities in the 91 to 120-day range. However, early redemption will result in a rate of 0.55% being applied. How much more interest will a 91-day $20,000 term deposit earn if it is held until maturity than if it is redeemed after 80 days?

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Definitions:

Vulnerable Response

An action or expression that openly shares personal, often sensitive, thoughts or feelings, fostering authenticity and trust.

Isolated Gender Stereotype

Specific assumptions or beliefs about the characteristics or roles appropriate to men or women in isolation from other societal or contextual factors.

Privately Owned Businesses

Enterprises that are owned by individuals or a small group of partners and not publicly traded on the stock market, often characterized by private financing and decision-making.

Women Owned

refers to businesses or entities that are primarily controlled and owned by women.