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BabaBlast [244]
2 years ago
13

What is the annual opportunity cost of a checking account that requires a $300 minimum balance to avoid service charges? Assume

an interest rate of 3 percent. (Input the amount as a positive value.)​
Business
1 answer:
Mamont248 [21]2 years ago
7 0

The annual opportunity cost of a checking account that requires a $300 minimum balance to avoid service charges is $9. Read below about the analysis of the annual opportunity cost of a checking

<h3>What is the annual opportunity cost of a checking account that requires a $300 minimum balance to avoid service charges?</h3>

The calculation goes thus;

Annual opportunity cost = Minimum balance × Interest rate

= $300 × 0.03

= $9

Therefore, the correct answer is as given above

learn more about annual opportunity cost: brainly.com/question/17204577

#SPJ1

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