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Assume a bank determined the following: For each $500 minimum balance checking account it provides to customers: Account processing and other operating costs will average

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Assume a bank determined the following: For each $500 minimum balance checking account it provides to customers: Account processing and other operating costs will average $3 per month. . Overhead expenses will run on average of $1.5 per month. . The bank wants a profit margin over these costs of 5% of total monthly. What monthly fee should the bank charge a customer who opens one of these checking accounts

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