Determine the annual net cost of these checking accounts: a. Monthly fee $4, check-processing fee of 20

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Determine the annual net cost of these checking accounts:

a. Monthly fee $4, check-processing fee of 20 cents, average of 23 checks written per month

b. Annual interest of 2.5 percent paid if balance exceeds $750, $8 monthly fee if account falls below minimum balance, average monthly balance $815, account falls below $750 during 4 months

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Personal Financial Planning

ISBN: 978-1111971632

13th edition

Authors: Lawrence J. Gitman, Michael D. Joehnk, Randy Billingsley

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Question Posted: Feb 13, 2015 09:30 AM

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Determine the annual net cost of these checking accounts: a. Monthly fee $4, check-processing fee of 20

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a Permonth cost 4 23 20 860 Annual cost 12 860 103...View the full answer

Personal Financial Planning

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