Answer:
Option B - The income earned in one month is $5.50.
Step-by-step explanation:
Given : At River Bank, checking account customers earn 0.75% interest a month on their account balances, pay no service fees for writing checks, and pay a monthly $2.00 financial charge.
To find : The income earned in one month on the checking account for a customer with an account balance of $1,000.
Solution :
Account balance of customer= $ 1,000
Interest earned in checking account= 0.75%
Financial charge= $2.00
Therefore, Income earned in one month on the checking account is given by 0.75% of 1,000 - $2
i.e, ![=\frac{0.75}{100}\times 1000 -2](https://tex.z-dn.net/?f=%3D%5Cfrac%7B0.75%7D%7B100%7D%5Ctimes%201000%20-2)
![=0.75\times 10 -2](https://tex.z-dn.net/?f=%3D0.75%5Ctimes%2010%20-2)
![=7.5 -2](https://tex.z-dn.net/?f=%3D7.5%20-2)
![=5.5](https://tex.z-dn.net/?f=%3D5.5)
So, Option B is correct.
The income earned in one month is $5.50.