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Financial Planning Exercise 5 Calculating the net costs of checking accounts Determine the annual net cost of these checking accounts. A sign must precede any

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Financial Planning Exercise 5 Calculating the net costs of checking accounts Determine the annual net cost of these checking accounts. A sign must precede any negative net cost answers. Round your intermediate calculations to two decimal places. a. Monthly fee $6, check-processing fee of 25 cents, average of 12 checks written per month. Round the answer to the nearest centi b. Annual interest of 2.0 percent paid if balance exceeds $400, $6 monthly fee if account falls below minimum balance, average monthly balance 5455, account falls below $400 during 6 months. Round the answer to the nearest cent

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