M A N A G I N G Y O U R C A S H A N D S A V I N G S D e t e r m i n e t h e a n n u a l n e t c o s t o f t h e s e c h e c k i n g a c c o u n t s : M o n t h l y f e e o f ₱ 5 0 0 . 0 0 , a c h e c k p r o c e s s i n g f e e o f ₱ 2 5 0 . 0 0 , a n a v e r a g e o f 1 9 c h e c k s w r i t t e n p e r m o n t h A n n u a l I n t e r e s t o f 2 . 5 % p a i d I f b a l a n c e e x c e e d s ₱ 2 0 , 0 0 0 . 0 0 , ₱ 2 , 0 0 0 . 0 0 m o n t h l y f e e i f a c c o u n t f a l ls b e l o w t h e m i n i m u m b a l a n c e, a v e r a g e m o n t h l y b a l a n c e ₱ 1 5 , 0 0 0 . 0 0 , a c c o u n t f a l l s b e l o w ₱ 1 0 , 0 0 0 . 0 0 d u r i n g 4 m o n t h s .
M A N A G I N G Y O U R C A S H A N D S A V I N G S D e t e r m i n e t h e a n n u a l n e t c o s t o f t h e s e c h e c k i n g a c c o u n t s : M o n t h l y f e e o f ₱ 5 0 0 . 0 0 , a c h e c k p r o c e s s i n g f e e o f ₱ 2 5 0 . 0 0 , a n a v e r a g e o f 1 9 c h e c k s w r i t t e n p e r m o n t h A n n u a l I n t e r e s t o f 2 . 5 % p a i d I f b a l a n c e e x c e e d s ₱ 2 0 , 0 0 0 . 0 0 , ₱ 2 , 0 0 0 . 0 0 m o n t h l y f e e i f a c c o u n t f a l ls b e l o w t h e m i n i m u m b a l a n c e, a v e r a g e m o n t h l y b a l a n c e ₱ 1 5 , 0 0 0 . 0 0 , a c c o u n t f a l l s b e l o w ₱ 1 0 , 0 0 0 . 0 0 d u r i n g 4 m o n t h s .
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
Related questions
Question
M A N A G I N G Y O U R C A S H A N D S A V I N G S
D e t e r m i n e t h e a n n u a l n e t c o s t o f t h e s e c h e c k i n g a c c o u n t s :
- M o n t h l y f e e o f ₱ 5 0 0 . 0 0 , a c h e c k p r o c e s s i n g f e e o f ₱ 2 5 0 . 0 0 , a n a v e r a g e o f 1 9 c h e c k s w r i t t e n p e r m o n t h
- A n n u a l I n t e r e s t o f 2 . 5 % p a i d I f b a l a n c e e x c e e d s ₱ 2 0 , 0 0 0 . 0 0 , ₱ 2 , 0 0 0 . 0 0 m o n t h l y f e e i f a c c o u n t f a l ls b e l o w t h e m i n i m u m b a l a n c e, a v e r a g e m o n t h l y b a l a n c e ₱ 1 5 , 0 0 0 . 0 0 , a c c o u n t f a l l s b e l o w ₱ 1 0 , 0 0 0 . 0 0 d u r i n g 4 m o n t h s .
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