Answer:
<em>The total interest earned after subtracting the monthly $35 </em>
<em>service fee = $975 - $35 = $940</em>
Step-by-step explanation:
Bank fee cost per month = $35
Interest rate per month = 1%
The total amount in the account until the 15th = $100,000
The total amount in the account from the 15th to the 30th = $95,000
Interest Earned?
<em>Interest earned for first 15 days:</em>
= $100,000 times 1%/2
= $100,000 times 0.001/2
= $500
<em>Interest earned from 15th to the 30th:</em>
<em> </em>= $95,000 times 1%/2
= $95,000 times 0.001/2
= $475
Interest earned for <em>first 15 days + Interest earned from 15th </em>
<em>to the 30th = </em>$500 + $475 = $975
So, the total interest earned after subtracting the monthly $35
service fee = $975 - $35 = $940
<em>Keywords: interest, interest rate</em>
<em>Learn more about interest calculation from brainly.com/question/3256069</em>
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