QUESTION 4 Account Type Checking - Variable Rate Money Market - Variable Rate Summer Cash - Variable Rate Holiday Cash - Variable Rate 6 Months - Fixed Rate 12 Months - Fixed Rate 18 Months - Fixed Rate 24 Months - Fixed Rate 30 Months - Fixed Rate 36 Months - Fixed Rate 48 Months - Fixed Rate 60 Months - Fixed Rate Opening Deposit Rate(APR) $0 0.25% $250.00 1.00% $0 0.99% $0 0.75% b) Money Market - Variable Rate: APY = c) Is the Summer Cash Variable Rate printed correctly? d) Is the Money Market Variable Rate printed correctly? $250.00 $250.00 $250.00 $250.00 $250.00 $250.00 $250.00 $250.00 1.00% 1.00% 1.00% 1.00% 1.00% 1.25% 1.50% 1.50% APY 0.25% 1.01% 1.00% 0.75% 1.00% 1.00% 1.00% 1.00% 1.00% 1.25% 1.50% 1.50% Use the table above: For the "Summer Cash Variable Rate" and "Money Market Variable Rate" check the APY. Do both of these appear t be printed correctl a) Summer Cash - Variable Rate: APY = % (round to 2-decimal point in percent) % (round to 2-decimal point in percent) , (Type Yes or No) (Type Yes or No)
QUESTION 4 Account Type Checking - Variable Rate Money Market - Variable Rate Summer Cash - Variable Rate Holiday Cash - Variable Rate 6 Months - Fixed Rate 12 Months - Fixed Rate 18 Months - Fixed Rate 24 Months - Fixed Rate 30 Months - Fixed Rate 36 Months - Fixed Rate 48 Months - Fixed Rate 60 Months - Fixed Rate Opening Deposit Rate(APR) $0 0.25% $250.00 1.00% $0 0.99% $0 0.75% b) Money Market - Variable Rate: APY = c) Is the Summer Cash Variable Rate printed correctly? d) Is the Money Market Variable Rate printed correctly? $250.00 $250.00 $250.00 $250.00 $250.00 $250.00 $250.00 $250.00 1.00% 1.00% 1.00% 1.00% 1.00% 1.25% 1.50% 1.50% APY 0.25% 1.01% 1.00% 0.75% 1.00% 1.00% 1.00% 1.00% 1.00% 1.25% 1.50% 1.50% Use the table above: For the "Summer Cash Variable Rate" and "Money Market Variable Rate" check the APY. Do both of these appear t be printed correctl a) Summer Cash - Variable Rate: APY = % (round to 2-decimal point in percent) % (round to 2-decimal point in percent) , (Type Yes or No) (Type Yes or No)
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
Related questions
Question
Please correct Solution with Explanation and do not give image format
Transcribed Image Text:QUESTION 4
Account Type
Checking - Variable Rate
Money Market - Variable Rate
Summer Cash - Variable Rate
Holiday Cash - Variable Rate
6 Months - Fixed Rate
12 Months - Fixed Rate
18 Months - Fixed Rate
24 Months - Fixed Rate
30 Months - Fixed Rate
36 Months - Fixed Rate
48 Months - Fixed Rate
60 Months - Fixed Rate
Opening Deposit Rate(APR)
$0
0.25%
$250.00
1.00%
$0
0.99%
SO
0.75%
$250.00
$250.00
$250.00
$250.00
$250.00
$250.00
$250.00
$250.00
1.00%
1.00%
1.00%
1.00%
1.00%
1.25%
1.50%
1.50%
APY
0.25%
1.01%
1.00%
0.75%
1.00%
1.00%
1.00%
1.00%
1.00%
1.25%
1.50%
1.50%
Use the table above:
For the "Summer Cash Variable Rate" and "Money Market Variable Rate" check the APY. Do both of these appear t be printed correctly?
a) Summer Cash - Variable Rate: APY =
% (round to 2-decimal point in percent)
b) Money Market - Variable Rate: APY =
c) Is the Summer Cash Variable Rate printed correctly?
d) Is the Money Market Variable Rate printed correctly?
% (round to 2-decimal point in percent)
(Type Yes or No)
(Type Yes or No)
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