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XYZ bank offers a $2500 minimum balance investment savings account paying 4 per cent annual interest, and there are no service charges as long
XYZ bank offers a $2500 minimum balance investment savings account paying 4 per cent annual interest, and there are no service charges as long as the customer maintains the minimum balance. The customer maintains a balance of $5000, and averages 750 cheques per year. Each cheque has a processing cost to the Fl of $0.20. What is the annual gross interest return on this account to the customer?
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
