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Author Question: Lucky Louie's bank requires a minimum balance at all times of $1500 in order to provide free ... (Read 197 times)

bcretired

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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
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Marked as best answer by bcretired on Apr 13, 2019

otokexnaru

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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.
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bcretired

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Reply #2 on: Apr 13, 2019
Thank you!


otokexnaru

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Reply #3 on: Apr 13, 2019
Always glad to help...


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