This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Lucky Louie's bank requires a minimum balance at all times of $1500 in order to provide free ... (Read 125 times)

bcretired

  • Hero Member
  • *****
  • Posts: 525
on: Apr 13, 2019

Lucky Louie's bank requires a minimum balance at all times of $1500 in order to provide free checking services. The bank pays .5% per annum interest on the minimum balance. If you do not maintain the balance, account service fees are $4 per month. Assuming Lucky can earn 2.5% on his money not sitting at the bank, what is his net benefit to maintaining the minimum balance?


◦ Not a benefit; he should invest his money elsewhere at 2.5%
◦ $18 per year benefit
◦ $48 per year benefit
◦ Breakeven
Personal Finance ¦ Madura ¦ 6th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by bcretired on Apr 13, 2019

otokexnaru

  • Sr. Member
  • ****
  • Posts: 314
Reply #1 on: Apr 13, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 44% of students answer this correctly


bcretired

  • Hero Member
  • *****
  • Posts: 525
Reply #2 on: Apr 13, 2019
Thank you!


otokexnaru

  • Sr. Member
  • ****
  • Posts: 314
Reply #3 on: Apr 13, 2019
Always glad to help...


« previous next »
 

Did you know?

The calories found in one piece of cherry cheesecake could light a 60-watt light bulb for 1.5 hours.

Did you know?

As the western states of America were settled, pioneers often had to drink rancid water from ponds and other sources. This often resulted in chronic diarrhea, causing many cases of dehydration and death that could have been avoided if clean water had been available.

Did you know?

All adults should have their cholesterol levels checked once every 5 years. During 2009–2010, 69.4% of Americans age 20 and older reported having their cholesterol checked within the last five years.

Did you know?

Increased intake of vitamin D has been shown to reduce fractures up to 25% in older people.

Did you know?

In 2010, opiate painkllers, such as morphine, OxyContin®, and Vicodin®, were tied to almost 60% of drug overdose deaths.

Do you know how kangaroos balance their body Do you know how kangaroos balance their body
In the summer of 1793, a yellow fever epidemic struck Philadelphia, killing nearly 4,000. Tens of th In the summer of 1793, a yellow fever epidemic struck Philadelphia, killing nearly 4,000. Tens of th
These illustrations show Ellen Craft, a slave with and without a disguise. She dressed “as a disting These illustrations show Ellen Craft, a slave with and without a disguise. She dressed “as a disting
Renal regulation of sodium and potassium balance. Renal regulation of sodium and potassium balance.
The West Bank Challenge The West Bank Challenge
How to solve an exponential decay problem involving first order decay How to solve an exponential decay problem involving first order decay
Video: Leukemia

For a complete list of videos, visit our video library