#1 a)

Go to 1stbankyuma.com. List what products they offer to consumers. (Example: checking

accounts)

At 1st Bank Yuma, consumers have access to a variety of financial products designed to meet
personal banking needs. Here's an overview:

🏦 Checking Accounts

1st Bank Yuma offers several personal checking options, including:

 1st Rate Rewards Checking: Earns 3.00% APY on balances up to $25,000 when monthly
requirements are met, such as direct deposit, online banking login, eStatements, and 15 or more
POS transactions per statement cycle. 1stbankyuma.com

 1st Executive Checking and 1st Elite Checking: Additional checking options with varying features
and benefits.

💰 Savings Accounts

Savings products include:

 1st Select Savings: Earns interest on daily ledger balances, compounded quarterly. A
maintenance fee applies if the minimum daily balance of $300 is not met. 1stbankyuma.com

 1st Rewards Savings: Designed to help customers save for special occasions, with interest
earned on daily ledger balances and paid quarterly. Offers one free withdrawal per year.
1stbankyuma.com

📄 Certificates of Deposit (CDs)

CDs offer fixed interest rates for specified terms:

 Terms: Range from 7 days to 5 years.

 Minimum Deposit: $1,000.1stbankyuma.com+11stbankyuma.com+1

 Interest: Rates vary depending on the term; interest can be compounded or paid by check.
1stbankyuma.com
 💳 Debit & Credit Cards

Consumers can access debit and credit card services, providing convenient payment options and
account access. 1stbankyuma.com

💵 Consumer Loans

Loan products include:

 Overdraft Lines of Credit: Linked to checking accounts to cover overdrafts.

 Personal Loans: Unsecured loans for various personal expenses.

 Home Equity Lines of Credit (HELOCs): Loans secured by the equity in your home.
1stbankyuma.com+41stbankyuma.com+41stbankyuma.com+4

📱 Digital Banking Services

1st Bank Yuma provides online and mobile banking platforms, allowing customers to:

 Access accounts.1stbankyuma.com+41stbankyuma.com+41stbankyuma.com+4

 Transfer funds.

 Pay bills.

 Manage finances remotely.

#1 b)

Do they also offer car loans to consumers?

Yes, 1st Bank Yuma offers auto loans to consumers. These are secured loans where the vehicle itself
serves as collateral. 1stbankyuma.com+21stbankyuma.com+21stbankyuma.com+2

You can apply for an auto loan by completing their Consumer Credit Application. The application
allows you to specify the loan amount, term, and vehicle details. Please note that a minimum loan
amount of $2,000 is required, and a $150 processing fee applies to all disbursed loans.1stbankyuma.com

For more information or assistance with the application process, you may contact 1st Bank Yuma
directly through their official website.
 #1 c)

Find the APY and Interest Rate of the 1st Rate Rewards Checking Account.

Note: Mention all important aspects and please provide the link where you found the information.

The 1st Rate Rewards Checking Account at 1st Bank Yuma offers competitive interest rates with
specific conditions:1st Bank Yuma+2WalletHub+21st Bank Yuma+2

 3.00% APY on balances up to $25,000 when monthly requirements are met.

 0.05% APY on balances over $25,000.

 If the account does not meet the monthly requirements, a 0.05% APY is earned on the entire
balance.Investopedia+81FSB Bank+8First Community Credit Union+8First Community Credit
Union+5WalletHub+51st Bank Yuma+5

Monthly Requirements:

 Maintain a $100 minimum opening deposit.

 No minimum balance is required thereafter.

 No monthly service charge.

 Must be a Yuma County or Santa Cruz County resident to open this account.First Tech Federal
Credit Union+51st Bank Yuma+5First Tech Federal Credit Union+5 First Bank Texas+11st Bank
Yuma+1

Please note that interest rates are subject to change, and it's advisable to contact 1st Bank Yuma
directly at (866) 384-3226 to verify the most current rates and Annual Percentage Yields (APY). 1FSB
Bank+41st Bank Yuma+41st Bank Yuma+4

#2

Read this wikipedia.org . Based on the first formula listed on the page, calculate a checking
account’s APY if the interest rate was 1.34% and it was compounded daily for one year.

Note: Please write out the exact formula and the inputs that you used in order to come to the final
answer.

To calculate the Annual Percentage Yield (APY) for a checking account with a 1.34% nominal interest
rate compounded daily over one year, we use the standard APY formula:

📘 APY Formula
APY=(1+inomN)N−1\text{APY} = \left(1 + \frac{i_{\text{nom}}}{N}\right)^N - 1APY=(1+Ninom
)N−1Wikipedia

Where:

 inomi_{\text{nom}}inom is the nominal annual interest rate (as a decimal)

 NNN is the number of compounding periods per yearWikipedia+1Wikipedia+1

🔢 Inputs

 inom=0.0134i_{\text{nom}} = 0.0134inom=0.0134 (which is 1.34%)

 N=365N = 365N=365 (daily compounding)Wikipedia+5Wikipedia+5Wikipedia+5

🧮 Calculation

APY=(1+0.0134365)365−1\text{APY} = \left(1 + \frac{0.0134}{365}\right)^{365} - 1APY=(1+3650.0134

)365−1

APY≈(1.0000367123)365−1\text{APY} \approx (1.0000367123)^{365} - 1APY≈(1.0000367123)365−1

APY≈1.0134899331−1\text{APY} \approx 1.0134899331 - 1APY≈1.0134899331−1Wikipedia

APY≈0.0134899331\text{APY} \approx 0.0134899331APY≈0.0134899331

✅ Final Result

APY≈1.34899331%\text{APY} \approx 1.34899331\%APY≈1.34899331%

Therefore, a 1.34% nominal interest rate compounded daily yields an APY of approximately
1.34899331%.

This calculation aligns with the standard APY formula as detailed on Wikipedia.

#3 a)

Go to capitalone.com. List the interest rates for their money market accounts.

Note: Please also provide the link where you found the information.

Capital One no longer offers a money market account. Their previous 360 Money Market Account
has been discontinued and is no longer available to new customers. finder.com+1Business
Insider+1Reddit

Currently, Capital One's primary high-yield savings product is the 360 Performance Savings Account,
which offers a competitive interest rate. As of February 10, 2025, the Annual Percentage Yield (APY) for
this account is 3.70%, with no minimum deposit required.
Reddit+2finder.com+2MoneysMyLife+2Forbes+2Bankrate+2Forbes+2

For the most up-to-date information on Capital One's savings products and interest rates, you can
visit their official website: Capital One Savings Accounts.

#3 b)

Go to wellsfargo.com, entering 22201 as your zip code.

Does the Way2Save savings account have any restrictions or special requirements? If so, please
list them below.

Yes, the Way2Save® Savings Account from Wells Fargo has specific requirements and restrictions.

🏦 Account Requirements

 Minimum Opening Deposit: $25

 Monthly Service Fee: $5 per fee periodwellsfargo.com

✅ Ways to Waive the Monthly Fee

You can avoid the $5 monthly service fee by meeting any one of the following during each fee
period:wellsfargo.com

1. Maintain a $300 minimum daily balance.

2. Set up one automatic transfer of $25 or more from a linked Wells Fargo checking account.

3. Set up daily automatic transfers of $1 or more from a linked Wells Fargo checking account.

4. Enroll in Save As You Go®, which transfers $1 from your linked Wells Fargo checking account to
your Way2Save Savings account each time you make a qualifying debit card purchase or Bill Pay
transaction.

5. The primary account owner is 24 years old or younger.wellsfargo.com

👤 Age Requirements

 12 and under: Can open a joint account with an adult.

 13 to 17 years old: Can open an account as a primary owner but must do so at a branch.

 18 and older: Can apply online.wellsfargo.com

💳 Access and Features

  Access funds using a Wells Fargo debit or ATM card.

 Interest is compounded daily and paid monthly.

 Interest rates are variable and subject to change.wellsfargo.com

For more details or to open an account, visit the official Wells Fargo page:
🔗 Wells Fargo Way2Save® Savings Account

#4 a)

Go to firstambank.com and list all types of accounts/products backed by government insurance.

At First American Bank, several accounts and products are backed by government insurance, providing
customers with added security. Here's a breakdown of these offerings:

✅ FDIC-Insured Accounts

The Federal Deposit Insurance Corporation (FDIC) insures certain deposit accounts up to applicable
limits, safeguarding your funds in case of bank failure. First American Bank

1. Checking Accounts
Standard checking accounts are FDIC-insured, ensuring your deposited funds are protected.

2. Savings Accounts
Traditional savings accounts fall under FDIC insurance, offering a secure place to grow your
money.

3. Money Market Deposit Accounts

These accounts combine features of savings and checking accounts and are also FDIC-insured.

4. Certificates of Deposit (CDs)

CDs are time-bound deposit accounts with fixed interest rates, and they are covered by FDIC
insurance.

5. Health Savings Accounts (HSAs) – Checking Portion

The checking component of HSAs is FDIC-insured, providing a secure way to manage healthcare
expenses.

🏦 Government-Backed Loan Products

While not insured in the traditional sense, certain loan products offered by First American Bank are
backed by government programs, providing borrowers with added assurances:

1. FHA Mortgage Loans

Insured by the Federal Housing Administration, these loans are designed to assist borrowers
with lower credit scores or limited down payments.

2. VA Loans
Guaranteed by the U.S. Department of Veterans Affairs, VA loans offer favorable terms for
eligible veterans and service members.

3. SBA Loans
Backed by the Small Business Administration, SBA loans support small businesses with various
financing needs.

Note: Investment products such as mutual funds, annuities, and stocks offered through First American
Bank are not FDIC-insured and may carry risks, including the potential loss of principal.

For more detailed information on FDIC insurance and coverage limits, you can visit First American Bank's
official FDIC Insurance page:
🔗 FDIC Insurance | Protected Deposits - First American Bank

#4 b)

Go to unionsavings.com . For which saving products does the interest rate not fluctuate based
on the balance?

At Union Savings Bank, the following savings products offer interest rates that do not fluctuate
based on the account balance:

🏦 Essential Savings Account

 Interest Rate & APY: Both are fixed at 0.03%, regardless of the balance amount.

 Minimum Opening Balance: $25

 Monthly Service Fee: $3, which can be waived by maintaining a $300 minimum daily balance,
being 18 years old or younger, 60 years old or older, or by having an Essential Checking account.

 Interest Compounding: Monthly

 Interest Credited: MonthlyUSB+2USB+2USB+2

 This account is ideal for those seeking a straightforward savings option without the complexity of
tiered interest rates. For more details, you can visit the Essential Savings Account page.

🧒 Young Savers Account

 Interest Rate: Fixed (specific rate details not provided)

 Minimum Opening Balance: $5

 Monthly Service Fee: None

 Eligibility: Designed for customers under the age of 21. Upon reaching 21, the account converts
to an Essential Savings account.USB

This account is tailored for young savers, offering a fixed interest rate without balance-based
fluctuations. More information can be found on the Personal Savings page.

📄 Certificates of Deposit (CDs)

Union Savings Bank offers various CD terms with fixed interest rates:

 Terms Available: 91 days to 60 months

 Interest Rate & APY: Fixed for the term of the CD

 Minimum Opening Deposit: $1,000

 Interest Compounding: Monthly

 Interest Credited: MonthlyUSB+1USB+1USB+3USB+3USB+3USB

CDs provide a secure way to earn a fixed return over a specified period. Detailed rates and terms are
available on the Personal Certificate of Deposit page.

These products are suitable for individuals seeking predictable interest earnings without the
variability associated with balance-based rate tiers.

#5

Go to www.bmo.com and find out the maximum number of Overdraft fees that a customer can be
charged in one day, for a checking account.
 At BMO, customers with checking accounts can be charged a maximum of three (3) Overdraft Fees
per business day. BMO

Each Overdraft Fee is $15 per item that overdraws your account by more than $50 after all items are
posted for the day. BMO+6BMO+6BMO+6

If you prefer to avoid overdraft fees altogether, consider the BMO Smart Money Checking account,
which does not allow overdrafts and will decline transactions that would overdraw the account, thereby
preventing any overdraft fees. BMO+3BMO+3BMO+3

For more details, you can review BMO's Overdraft Services here:
🔗 BMO Overdraft Services