etermine the annual net cost of these checking accounts. A "-" sign must precede any negative net cost answers. Round your intermediate calculations to two decimal places. Monthly fee $4, check-processing fee of 15 cents, average of 11 checks written per month. Round the answer to the nearest cent. $ Annual interest of 3.5 percent paid if balance exceeds $800, $8 monthly fee if account falls below minimum balance, average monthly balance $850, account falls below $800 during 4 months. Round the answer to the nearest cent.

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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Determine the annual net cost of these checking accounts. A "-" sign must precede any negative net cost answers. Round your intermediate calculations to two decimal places.

 

  1. Monthly fee $4, check-processing fee of 15 cents, average of 11 checks written per month. Round the answer to the nearest cent.

    $  

  2. Annual interest of 3.5 percent paid if balance exceeds $800, $8 monthly fee if account falls below minimum balance, average monthly balance $850, account falls below $800 during 4 months. Round the answer to the nearest cent.

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