How much does free checking really cost you on yearly basis

Reference no: EM131941420

Question: Your bank offers you "free checking" if you maintain and average balance of $7693 in your checking account. Your checking account pays no interest. If your savings account earns 9.6% APR, compounded monthly, how much (in dollar terms) does the free checking really cost you on a yearly basis?

Reference no: EM131941420

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