Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I'm having trouble getting the right answer on my homework. I keep getting an answer that seems right to me but the system keeps telling

I'm having trouble getting the right answer on my homework. I keep getting an answer that seems right to me but the system keeps telling me it's wrong. The question is: "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." Annual interest of 2.5% paid if balance exceeds $900, $6 monthly fee if account falls below minimum balance, average monthly balance $990, account falls below $900 during 6 months. Round the answer to the nearest cent. I've put -11.25 and it is incorrect.

Nevermind, I figured it out.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Banking And Finance

Authors: Brian Duignan

1st Edition

1615308946, 978-1615308941

More Books

Students also viewed these Finance questions

Question

How does ERISA provide protection for a workers retirement?

Answered: 1 week ago