(Answered) What would be the netnbspannualnbspcost of the following

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What would be the net annual cost of the following checking account?

Interest earnings of 3 percent with a $550 minimum balance; average monthly balance, $800; monthly service charge of $15 for falling below the minimum balance, which occurs three times a year (no interest earned in these months) (Do not round intermediate calculations. Round your answer to 2 decimal places. Input the amount as a positive value.)

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