ou could earn 3% on your money in your checking account, as long as the minimum balance does not fall below 200.00. Your average monthly balance stays at 200, 9 months of the years. Three months you fall below the 200.00 required balance. Monthly service fee for falling below the 200.00 is 10.00 per month for each occurrence

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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You could earn 3% on your money in your checking account, as long as the minimum balance does not fall below 200.00. Your average monthly balance stays at 200, 9 months of the years. Three months you fall below the 200.00 required balance. Monthly service fee for falling below the 200.00 is 10.00 per month for each occurrence.

  1. What is the cost of the checking account
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