The following information is provided: Average Ledger Balance $800,000 Deposit Float 30,000 Reserve Requirement 10% Earnings Credit

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The following information is provided:
Average Ledger Balance $800,000
Deposit Float 30,000
Reserve Requirement 10%
Earnings Credit Rate 2.5%
Services charges for the month $1,550
Days in the month 30

How much is the earnings credit? Is it sufficient to cover the service charges?

Related Book For answer-question

Fraud examination

ISBN: 978-0538470841

4th edition

Authors: Steve Albrecht, Chad Albrecht, Conan Albrecht, Mark zimbelma

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Posted Date: Oct 18, 2020 06:02 PM

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The following information is provided: Average Ledger Balance $800,000 Deposit Float 30,000 Reserve Requirement 10% Earnings Credit

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Fraud examination

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