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How much will the company owe the bank in hard dollar fees

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Question - In the month of July (31 days), a company had an available balance in their deposit account of $4,126,000 and service charges of $2,500. If the ECR for the month was 45 bp, and the reserve requirement of 10%, how much will the company owe the bank in hard dollar fees, after adjustment for earnings credit?

Reference no: EM133029657

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