Type the correct answer in each box. Use numerals instead of words. If necessary, use / for the fraction bar(s). Complete this n
1 answer:
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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,
So, Option B is correct.
The income earned in one month is $5.50.