Determine the annual net cost of these checking accounts: a. Monthly fee $ 4, check- processing fee of 20 cents, average of 23 checks written per month b. Annual interest of 2.5 percent paid if balance exceeds $ 750, $ 8 monthly fee if account falls below minimum balance, average monthly balance $ 815, account falls below $ 750 during four months
1 answer
A is $103.20 but as for B the question doesn't make sense because there isn't enough information. Is $750 the minimum balance? Is the account below $750 at the time that he would be available for the annual interest?