6. Consider a bank account with the following transactions for the month of June 2021: No. of Days Balance is Balance June Deposit Withdraw for the Day Unchanged * 1 20,000 20,000 14 * * 16,500 10,500 * * 21 11,000 * * 30 16,500 4.000 a. Supply the correct data in the boxes marked with * b. What is the average daily balance for this account for the month of June? c. If a bank advertises an interest rate of 1.5% per year compounded monthly, what is the total interest earned for this month?

6. Consider a bank account with the following transactions for the month of June 2021: No. of Days Balance is Balance June Deposit Withdraw for the Day Unchanged * 1 20,000 20,000 14 * * 16,500 10,500 * * 21 11,000 * * 30 16,500 4.000 a. Supply the correct data in the boxes marked with * b. What is the average daily balance for this account for the month of June? c. If a bank advertises an interest rate of 1.5% per year compounded monthly, what is the total interest earned for this month?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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