The annual percentage yield (APY) on an account with $180.10 annual interest earned and a daily average balance of $1702.11 would be:
A) 10.58%
B) .1058%
C) 10.9%
D) 8.41%
E) None of the above

Name: The annual percentage yield (APY) on an account with $180.10 annual interest earned and a daily average balance of $1702.11 would be: A) 10.58% B) .1058% C) 10.9% D) 8.41% E) None of the above
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Quizplus · Accepted Answer

The APY is calculated as (Interest Earned / Average Daily Balance) * 100. So, ($180.10 / $1702.11) * 100 = 10.58%.

The Annual Percentage Yield (APY) on an Account with $180