Question
Each month a Bank carries an average balance of $3632 in all checking accounts. These accounts are being turned over 3 times a year. Based
Each month a Bank carries an average balance of $3632 in all checking accounts. These accounts are being turned over 3 times a year. Based on this information, fill in the below data:
I = ?dollars
T =?months
On average, how much money is flowing through the bank each month? Hint: Keep in mind the conversion from year to month.
$ ? / month
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Accounting The Ultimate Guide To Accounting For Beginners
Authors: Greg Shields
1st Edition
1546332820, 978-1546332824
