What would be the net annual cost of the following checking accounts? (Obj. 4) a. Monthly fee,
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What would be the net annual cost of the following checking accounts? (Obj. 4)
a. Monthly fee, $3.75; processing fee, 25 cents per check; checks written, an average of 14 a month.
b. Interest earnings of 4 percent with a $500 minimum balance; average monthly balance, $600; monthly service charge of
$15 for falling below the minimum balance, which occurs three times a year (no interest earned in these months).
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Related Book For
Focus On Personal Finance
ISBN: 9780073382425
3rd Edition
Authors: Jack Kapoor, Les Dlabay, Robert Hughes
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