Wilson & Co. has a checking account with a monthly fee of $4.50 and a processing fee of $0.30 per check. On average, the company writes 18 checks per month. What is the net annual cost of this checking account?
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What is the net annual cost of this checking account on these financial accounting question?
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- What is the annual cost of a checking account with a monthly fee of $7.50 and a processing fee of $0.25 per check if you write an average of 2 checks per month?What is would be the net annual cost of the following account? a. Montly fee,$3.75, processing fee,25 cents per check; checks written,an average of 14 month.( input the amount as a positive value)What would be the net annual cost of the following checking accounts? (a) Monthly fee, $2.80; processing fee, $0.35 cents per check; checks written, an average of 23 a month. (Do not round intermediate calculations. Input the answer as a positive value. Round your answer to 2 decimal places.) Net annual cost (b) Interest earnings of 7 percent with a $500 minimum balance; average monthly balance, $700; monthly service charge of $16 for falling below the minimum balance, which occurs three times a year (no interest earned in these months). (Do not round intermediate calculations. Input the answer as a positive value. Round your answer to 2 decimal places.) Net annual cost
- What would be the net annual cost of the following checking accounts? Monthly fee, $3.75; processing fee, 25 cents per check; checks written, an average of 14 a month. Interest earnings of 4 percent with a $500 minimum balance; average monthly balance, $600; monthly service charge of $15 for falling below the minimum balance, which occurs three times a year (no interest earned in these months).What would be the net annual cost of thefollowing checking accounts? a. Monthly fee, $3.75; processing fee, 25cents per check; checks written, anaverage of 14 a month. b. Interest earnings of 4 percent with a$500 minimum balance; average monthlybalance, $600; monthly service charge of$15 for falling below the minimumbalance, which occurs three times a year(no interest earned in these months).10. Comparing Costs of Checking Accounts. What would be the net annual cost of the following checking accounts? a. Monthly fee, $3.75; processing fee, $0.25 per check; checks written, an average of 22 a month. b. Interest earnings of 6 percent with a $500 minimum balance; average monthly balance, $600; monthly service charge of $15 for falling below the minimum balance, which occurs three times a year (no interest earned in these months). ype here to search 144 10 近
- please helpPLEASE MAKE IT IN EXCEL AND SHOW THE FORMULAS (Take screenshots) La Resolana, S.A., has credit sales of $180,000 per year, with net payment terms of 30 days, which is also the average collection period. La Resolana does not currently offer any cash discounts, so customers take the 30 days to pay. What is the average accounts receivable balance? What is the accounts receivable turnover?Shannara Manufacturing writes 30 checks a day for an average amount of $497 each that generally clear 3 days after they are written. In addition, the firm generally receives 38 checks each day with an average amount of $ 562 each that are available after 2.5 days. Is this a collection or disbursement float? What is the amount of the float?
- An FI has estimated the following annual costs for its demand deposits: management cost per account = $150, average account size = $1600, average number of cheques processed per account per month = 75, cost of clearing a cheque = $0.10, fees charged to customer per cheque = $0.05, and average fee charged per customer per month = $15. (a) What is the implicit interest cost of demand deposits for the FI? (b) If the FI has to keep an average of 8 per cent of demand deposits as required reserves with the RBA paying no interest, what is the implicit interest cost of demand deposits for the FI? (c) What should be the per-cheque fee charged to customers to reduce the implicit interest costs to 3 per cent? Ignore the reserve requirements.First National Bank requires a minimum balance of $1000 on its interest-earning checking accounts. Account holders are paid 1.50 percent on the average balance if the balance stays above the minimum all month. If you normally have an average balance of $2200, what is the annual opportunity cost of keeping the money in a First National checking account instead of a savings account that pays 3.50 percent? $44.00 $24.00 $33.00 $42.00Need help on rounding these ones