Calculating the net costs of checking accounts determine, Ask an Expert

Economics

Calculating the net costs of checking accounts. Determine the annual net cost of these checking accounts:

a. Montly fee $4, check-processing fee of 20 cents, average of 23 checks written per month

b. Annual interest of 1.5 percent paid if balance exceeds $750, $8 montly fee if account falls below minimun balance, average monthly balance $815, account falls below $750 during four months

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91953617

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