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Personal Financial Planning 13th Edition by Lawrence Gitman,Michael Joehnk,Randy Billingsley
Edition 13ISBN: 978-1111971632Personal Financial Planning 13th Edition by Lawrence Gitman,Michael Joehnk,Randy Billingsley
Edition 13ISBN: 978-1111971632 Exercise 32
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 4 months
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 4 months
Explanation
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Checking accounts will generally have an...
Personal Financial Planning 13th Edition by Lawrence Gitman,Michael Joehnk,Randy Billingsley
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