Calculating the net costs of checking accounts

Assignment Help Business Economics

Reference no: EM131197562

Calculating the net costs of checking accounts. Determine the annual net cost of these checking accounts:

a. Montly fee $4, check-processing fee of 20 cents, average of 23 checks written per month

b. Annual interest of 1.5 percent paid if balance exceeds $750, $8 montly fee if account falls below minimun balance, average monthly balance $815, account falls below $750 during four months

Reference no: EM131197562

Questions Cloud

About the net working capital : You are evaluating the balance sheet for Goodman's Bees Corporation. From the balance sheet you find the following balances: cash and marketable securities = $360,000, accounts receivable = $2,200,000, inventory = $1,900,000, accrued wages and taxes ..

Used for financial statement benchmarks analysis : Standard Industry Classification codes (SIC) are used for financial statement “benchmarks” analysis. Your company’s financial results would need to be compared to others. SICs provide the format to compare a particular company’s financial data to the..

Calculate builtrite taxable income and tax liability : Builtrite had sales of $4,000,000 in 2011. Cost of goods sold were calculated at 70% of sales. Builtrite’s operating expenses were $700,000 which included depreciation expense. Bonds with a total par value of $2,000,000 were outstanding and had a 4% ..

The account earned the rates of return : At the end of 2011, the value of my savings account was $15,000. Over the next four years, the account earned the rates of return shown below. How much was in the account at the end of the fourth year, 2015?

Calculating the net costs of checking accounts : Calculating the net costs of checking accounts. Determine the annual net cost of these checking accounts:

How much must the business deposit : A business must make a payment of $40,000 five years from now. To fund that future payment, the business will deposit money today into an account which will earn 0.49% per month. How much must the business deposit today, in order to have $40,000 at t..

What was annual rate of return on your four-year investment : On August 30, 2012, shares of stock in Eli Lilly were selling for $45.00 per share. On August 30, 2016, the shares were priced at $78.35. If you bought shares four years ago for $45.00 per share and sold them now for $78.35 per share, what was the an..

Balance of inventory and the balance of depreciation : Brenda’s Bar and Grill has total assets of $16.0 million, of which $10.0 million are current assets. Cash makes up 10 percent of the current assets and accounts receivable makes up another 40 percent of current assets. What is the balance of inventor..

What and how much has been the rate of return : oe Doe deposited $ 51,000 in your savings account. The interest rate is 10% compounded semiannually. How old will take to reach $ 72.600.00 investment? 5. You have deposited $ 10,000 in equity investments, after three years, the balance of the invest..

User Account

All Pages