What is the number of payments per year

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Reference no: EM13290418

Dupree funds is considering the fees charged by two banks. First America charges a flat rate of $0.11 per payment and First Western requires a balance of $500,000 (that does not pay interest to Dupree funds),plus $.05 per payment. What is the number of payments per year where the costs of the two banks will be equal?

Reference no: EM13290418

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