What is the annual opportunity cost of a chequing account that requires a $350 minimum balance to

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What is the annual opportunity cost of a chequing account that requires a $350 minimum balance to avoid service charges? Assume an interest rate of 6.5 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,...
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Foundations Of Finance

ISBN: 9780135160619

10th Edition

Authors: Arthur J. Keown, John H. Martin, J. William Petty

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