What is the annual opportunity cost of a checking account that requires a $400 minimum balance to

Question:

What is the annual of a checking account that requires a $400 minimum balance to avoid service charges? Assume an interest rate of 3 percent.
Opportunity Cost
Opportunity cost is the profit lost when one alternative is selected over another. The Opportunity Cost refers to the expected returns from the second best alternative use of resources that are foregone due to the scarcity of resources such as land,...