Question: 5. Use the following information from an account analysis statement to answer the following questions: - Collected balance $500,000 - Service charges $5,000 - Reserve

5. Use the following information from an account analysis statement to

5. Use the following information from an account analysis statement to answer the following questions: - Collected balance $500,000 - Service charges $5,000 - Reserve requirement ratio of 10% - Days in month 30 days - Earnings credit rate .60% a) Calculate the monthly earnings credit allowance and the net services charges. b) Solve for the collected balances required and interpret value. c) Suppose that the earnings credit rate is re-negotiated upward to .75\%. Recalculate the earnings credit allowance, net service charge, and collected balance required

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