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
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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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.
- What is the cost of the checking account
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