A depositor leaves her funds in the amount of $5,000 in a credit union deposit for a full year but then withdraws $1000 after 270 days. At the end of the year the credit union pays her $300 in interest. What is this depositor's daily average balance and APY?
Correct Answer:
Verified
View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
Q8: An AAA-rated corporate bond has a current
Q9: You plan to borrow $2,000 in order
Q10: An investor is interested in purchasing a
Q11: You discover a $1,000 par value bond
Q12: You borrow $2,500 for five years at
Q13: In problem 7 above, if interest were
Q14: You have just placed $1,500 in a
Q15: You decide to take out a 30-year
Q16: A home mortgage loan for $60,000 is
Q18: A commercial loan extended to CIBER-LAND Corporation
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents