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B. The typical interest-checking account customer at your bank maintains a monthly balance of 1,150 net of float, writes 34 checks or withdrawals (21 electronic),
B. The typical interest-checking account customer at your bank maintains a monthly balance of 1,150 net of float, writes 34 checks or withdrawals (21 electronic), deposits four transit checks, cashes two transit checks, makes two deposits (one electronic), and cashes one on- us check per month. Assume there is one account maintenance for an account in which checks are not returned and that net indirect expenses apply. Interest is paid on the account at an annual 1.5 percent rate. Use
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