What would be the net annual cost of the following checking accounts? (a) Monthly fee, $2.80; processing fee, $0.35 cents per check; checks written, an average of 23 a month. (Do not round intermediate calculations. Input the answer as a positive value. Round your answer to 2 decimal places.) Net annual cost (b) Interest earnings of 7 percent with a $500 minimum balance; average monthly balance, $700; monthly service charge of $16 for falling below the minimum balance, which occurs three times a year (no interest earned in these months). (Do not round intermediate calculations. Input the answer as a positive value. Round your answer to 2 decimal places.) Net annual cost