From an analysis on its deposits,a bank determines that account processing and other operating expenses cost the bank $4.45 per month.The bank has also determined that non-operating expenses on its deposits are $1.15 per month.It has also decided that it wants a profit of $0.45 on its deposits.What monthly fee should the bank charge on its deposit accounts?
A)$6.05
B)$5.60
C)$5.15
D)$4.45
E)None of the options is correct

Question

Quizplus · Accepted Answer

The bank should charge $6.05 per month, calculated by adding the operating expenses ($4.45), non-operating expenses ($1.15), and desired profit ($0.45).

From an Analysis on Its Deposits,a Bank Determines That Account