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Use the following assumptions to determine the collected balance that would be required to offset a monthly service charge of $400. Ledger Balance = $300,000

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Use the following assumptions to determine the collected balance that would be required to offset a monthly service charge of $400. Ledger Balance = $300,000 Deposit Float = $100,000 Earnings Credit Rate = 1.12% Days m Month = 30 days Reserve Requirement Ratio = 10% $496.190 48 $410.555.56 $462.804.23 $432.592.59

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