Chapter 4 Financial Planning Exercise 5 Calculating the net costs of checking accounts Determine the annual cost of these cheding accounts. A sign must procede any negative net cast answers. Hound your intermediate calculations to two decimal places. My check processing fee of 20 carts, average of 19 had written per month. Round the answer to the art cent Bart of 4. pit bances 900, 8 monthly fee of account below mum balance, average monthly balance account flow 900 during four months Round the answer to the nearest cont Grade it Now Save & Continue Continue without sining Exhibit 4.4 Checking Accounts Comparison Chart Most banks offer a variety of checking account options, which are typically differentiated by minimum balances, fees, and other services. Features Minimum daily balance None (to walve monthly Representative Bank USA College Checking Custom Checking $750 in checking $5,000 in checking Advantage Checking Advantage Plus Checking $7,500 combined balance service fee) Monthly service fee $5.95 $9 with direct deposit $11 without direct deposit; no fee with i Homeowner's Option $12 ($2 discount with direct deposit) Interest No No Yes Yes Online statements Free Free Free Free Check safekeeping Free Free Free Free Monthly check return $3.00 $3.00 ATM and check card Free Free $3.00 Free Free Free Bank by phone Free automated calls Free automated calls Free automated calls Free banker-assisted calls Overdraft protection Credit card Credit card Direct deposit advance service Not available Yes, with a direct deposit of $100 a month or more Credit card, line of credit account, and select deposit accounts Yes, with a direct deposit of $100 a month or more Credit card, line of credit account, and select deposit accounts Yes, with a direct deposit of $100 a month or more 7