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26. From an analysis on its deposits, a bank determines that account processing and other operating expenses con the bank $4.45 per month. The bank
26. From an analysis on its deposits, a bank determines that account processing and other operating expenses con the bank $4.45 per month. The bank has also determined that non-operating expenses on its deposits are $1.15 per month. It has also decided that it was a profit of 0.45 on its deposits. What monthly fee should the bank charge on its deposit accounts? A. 56.05 B. 55.60 C. 55.15 D. $445 27. If you deposit $1,000 into a certificate of deposit that quotes you a 55% APY. how much will you have at the end of year? A. $1,050.00 B. 51.055.00 C. $1,550,00 D. S1,005,50 28. A bank quotes an APY of 8%. A small hosiness that has an account with the bank had $2,500 in their account for half the year and $5,000 in their account for the other half of the year. How much in total interest earnings did the business make during the year? A $300 B. $200 C. 5400 D. $150 29. A customer makes a savings deposit for 60 days. During that time he cams Sil in interest and maintains an average daily balance of S1,500. What is the annual percentage yield on this savings account? A 0.73% B. 4.32% C. 454% D. 4.78% 30. A bank expects to raise $20 million in new money if it pays a deposit rate of 7% 560 million in new money if it pays a deposit rate of 7.5% S100 million in new money if it pays a deposit rate of 8% and 5120 in new money if it pays a deposit rate of 85%. The bank expects to eam 9.5% on all money that it receives in new deposits What is the marginal cost of deposits if the bank uses their deposit rate from 75%8967 A 11% B. 8.75% C. 7.75% D.7% ******** *****
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