Calculating the net costs of checking accounts. Determine the annual net cost of these checking accounts: a. Monthly fee $4, check-processing fee of 20 cents, average of 23 checks written per month. b. Annual interest of 1.5% paid if balance exceeds $750, $8 monthly fee if account falls between minimum balance, average monthly balance $815, account falls below $750 durng 4 months.

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Q: cost

A: Net annual cost is defined as a cost incurred in the checking accounts. The montthly cost generally…

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Q: 2. Albert Frost's savings account. $820 on deposit. 6% annual interest rate. Time is 3 months. Find…

A:

Q: What would be the net annual cost of the following checking accounts? (a) Monthly fee, $3.85;…

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Q: What would be the net annual cost of the following checking accounts? a. Monthly fee, $2.75;…

A: Calculation of net annual cost for both case are as follows.

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