Question: Use the following information from an account analysis statement to answer the following questions. Collected balanceService chargesReserve Requirement ratio of 1 0 % Days in

Use the following information from an account analysis statement to answer the following questions. Collected balanceService chargesReserve Requirement ratio of

10 %

Days in the month

= 30

days Earnings Credit Rate

= 0.60 %

.

Calvulate the monthly earnings credit allowance and the new service charges B

.

Solve for the collected bakances required and interpret the value C

.

Suppose that the earnings credit rate is re

-

negotiated upward to

0.75

percent. Recalculate the earnings credit allowance, net service charges, and collected balance required.

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