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 127 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?

Nearly all drugs pass into human breast milk. How often a drug is taken influences the amount of drug that will pass into the milk. Medications taken 30 to 60 minutes before breastfeeding are likely to be at peak blood levels when the baby is nursing.

Did you know?

Before a vaccine is licensed in the USA, the Food and Drug Administration (FDA) reviews it for safety and effectiveness. The CDC then reviews all studies again, as well as the American Academy of Pediatrics and the American Academy of Family Physicians. Every lot of vaccine is tested before administration to the public, and the FDA regularly inspects vaccine manufacturers' facilities.

Did you know?

Long-term mental and physical effects from substance abuse include: paranoia, psychosis, immune deficiencies, and organ damage.

Did you know?

The FDA recognizes 118 routes of administration.

Did you know?

The use of salicylates dates back 2,500 years to Hippocrates's recommendation of willow bark (from which a salicylate is derived) as an aid to the pains of childbirth. However, overdosage of salicylates can harm body fluids, electrolytes, the CNS, the GI tract, the ears, the lungs, the blood, the liver, and the kidneys and cause coma or death.

Upsetting the entire social order, the French Revolution removed the past as a sure guide to the ... Upsetting the entire social order, the French Revolution removed the past as a sure guide to the ...
Many exhaust manifolds are constructed of pressed steel and are free flowing to improve engine ... Many exhaust manifolds are constructed of pressed steel and are free flowing to improve engine ...
How to evaluate the third-order determinant How to evaluate the third-order determinant
Acid–Base Balance Acid–Base Balance
Sonja is paid $42.50 per hour as a veterinarian. She is paid 1 times the regular rate for all ... Sonja is paid $42.50 per hour as a veterinarian. She is paid 1 times the regular rate for all ...
Raman has a line of credit loan with the ICICI bank. The initial loan balance was $72000.00. ... Raman has a line of credit loan with the ICICI bank. The initial loan balance was $72000.00. ...
Video: Cardiac conductile cells

For a complete list of videos, visit our video library