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Interest earnings of 4 percent with a $500 minimum balance; average monthly balance, $700; monthly service charge of $20 for falling below the minimum balance, which occurs three times a year?

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abdullahfarooqi abdullahfarooqi

22-03-2020

Answer:

$39

Explanation:

700*0.4= 28*9/12= $21 per year in interest earned.

3*$20=$60

60-21= $39 net cost

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