What is the annual opportunity cost of a checking account that requires a $500 minimum balance to avoid service charges? Assume an interest rate of 3 percent.
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- Assume an interest rate of 3 percent?If a credit card you are interested in has an APR of 24%, what would the Daily Periodic Rate (DPR) be? (express your answer as a percent) 0.24% 0.000658% O 2% O 0.0658%If a credit card you are interested in has an APR of 16%, what would the Daily Periodic Rate (DPR) be? (express your answer as a percent and as a decimal) O.0438% = .000438 O 000438% = .0438 O.16% = .0016 O 1.33% = 1.33
- The amount of simple interest on a deposit varies jointly with the principal and the time in days. If $17.85 is earned on a deposit of $3500 for 12 days, how much interest would be earned on a deposit of $3700 for 20 days? ... The deposit would earn S in interest. (Simplify your answer. Round to the nearest cent as needed.)To calculate the withdrawal amount from an account in which you want to maintain a static balance, you use the __________________ formula. Group of answer choices Installment Payment Simple Interest Annuity Compound InterestWhat is the apr? Please solve this question general Accounting question
- I want to this question answer general AccountingConsider a $5,000, 6%, 180-day interest-bearing note and a non-interest- bearing note for the same amount and time period with a bank discount of 6%. From the borrower’s point of view, which is the better loan and why?which of the following banks would you choose for a savings account based on the following rates offered? 1. 6% APR compounded annually 2. 5% APR compounded annually 3. 5% APR compounded semi-annually 4. 4% APR compounded weekly 5. 6% APR compounded quarterly.
