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kherson [118]
2 years ago
13

Why would it be important to have a low minimum balance requirement on a student checking account?.

Business
1 answer:
Westkost [7]2 years ago
7 0

It would be important to have a low minimum balance requirement on a student checking account in order to reflect a student's lifestyle.

<h3>What is a minimum balance requirement?</h3>

A minimum balance requirement refers to the minimum amount of money that is required to keep in a bank account, usually in order to claim the account's monthly fee.

Bank required the depositers and account holders to keep the minimum amount of money in the bank account due to various reasons. The major reason is that, it allows the bank to have more deposits, which in turns allows them to lend more money.

Basically, Banks require minimum balances to maintain certain regulatory financial ratio requirements.

Learn more about minimum balance requirement here:

brainly.com/question/2977924

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If you are stopped by a police officer for driving without having all passengers under the age of 18 properly restraint, you can
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D)3 points

Explanation:

When children are involved, seatbelt tickets may mean points.

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Stadium owners have often been accused by business owners of doing what to the prices for sponsorship opportunities
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Calculate the dollar rate of return on a 10 comma 00010,000 pound sterling deposit in a London bank in a year when the interest
lyudmila [28]

Answer: 92.7%

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Due to the depreciation of the Dollar against the Pound, the foreign denominated deposit will have an even higher return.

Let's calculate that return.

= New Exchange rate - Former exchange rate / Former exchange rate

= 1.42142 - 1.23123 / 1.23123

= 0.15447

= 15. 4%

There is a gain of 15.4%.

In order to get the total dollar rate of return we add this just calculated return to the interest rate on pound which is 77%.

= 77 + 15.4

= 92.7%

In dollars then the return is 92.7%.

If you need any clarification please feel free to comment or react. This will help other users as well. Thank you.

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