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Problem 12. [5 pts] What is the annual opportunity cost of a chequing account that requires a $3,000 minimum balance to waive plan fee ($10.95

Problem 12. [5 pts] What is the annual opportunity cost of a chequing account that requires a $3,000 minimum balance to waive plan fee ($10.95 monthly fee)? Assume an interest rate of 7%. (Show your calculations)

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