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personal finance. need questions 10 & 11 please 10. Comparing Costs of Checking Accounts. What would be the net annual cost of the following checking
personal finance. need questions 10 & 11 please
10. Comparing Costs of Checking Accounts. What would be the net annual cost of the following checking accounts? a. Monthly fee, $3.75; processing fee, $0.25 per check; checks written, an average of 22 a month. b. Interest earnings of 6 percent with a $500 minimum balance; average monthly balance, $600; monthly service charge of $15 for falling below the minimum balance, which occurs three times a year (no interest earned in these months) 11. Computing Checking Account Balance. Based on the following information, determine the true balance in your checking account. (See the related Financial Literacy Calculations feature.) Balance in your checkbook, $356 Interest earned on the account, $4 Balance on bank statement, $472 Total of outstanding checks, $187 Service charge and other fees, $15 Deposits in transit, $60 Step by Step Solution
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