Question: Problem 4-13 (LO4.4) What would be the net annual cost of the following checking accounts? a. Monthly fee, $4.25; processing fee, 50 cents per check;

Problem 4-13 (LO4.4) What would be the net annual cost of the following checking accounts? a. Monthly fee, $4.25; processing fee, 50 cents per check; assume checks written average to 16 per month. (Round your answer to 2 decimal places.) Net annual cost b. Interest earnings of 2 percent with a $550 minimum balance; average monthly balance, $750; monthly rvice charge of $14 for falling below the minimum balance, which occurs five times a year (no interest ser earned in these months). (Do not round intermediate calculations. Round your answer to 2 decimal places.) Net annual cost References eBook & Resources Dificulty: 3 Challenge

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