What would be the net annual cost of the following checking accounts? (a) Monthly fee, $2.40; processing fee, $0.20 cents per check; checks written, an average of 25 a month. (Do not round intermediate calculations. Input the answer as a positive value. Round your answer to 2 decimal places.) (b) Interest earnings of 5 percent with a $500 minimum balance; average monthly balance, $600; monthly service charge of $18 for falling below the minimum balance, which occurs three times a year (no interest earned in these months). (D
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What would be the net annual cost of the following checking accounts? (a) Monthly fee, $2.40; proces...
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