$\mathrm{}$An MMDA account has a minimum balance requirement of $$1,000$ and the depositor can have a maximum of $3$ checks or transfers from the account each month. The bank pays $5\mathrm{.}25$ percent interest on the entire account balance but it costs $$0\mathrm{.}12$ to process each check or transfer. There is also a monthly cost for statements and other account maintenance of $$2\mathrm{.}15.$  The bank does charge an annual account fee of $$12\mathrm{.}00$ each January. Assume that the customer writes $3$ checks each month and keeps an average balance of $$3,000.$ 

 

a$.$ What explicit interest does the account holder earn each year?

b$.$ What is the implicit interest that the bank absorbs each year?

c$.$ What is the average annual return to the customer each year?