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What would be the annual opportunity cost of a checking account that requires a 500 minimum balance to avoid service charges Assuming a rate of 3 percent?
Wiki User
∙ 10y ago
The opportunity cost would be the potential missed income from placing the money in an interest bearing account. $500 times .03 = $15.
Wiki User
∙ 10y ago
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What is the annual opportunity cost of a checking account that requires a 500 minimum balance to avoid service charges. Assume an interest rate of 3 percent?
15.00
What is the annual opportunity cost of a checking account with a 6.5 percent interest rate that requires a 350.00 minimum balance to avoid service charges?
$350 * 6.5% = $22.75
How do you find the name on checking account with the checking account number and routing number that paid a bill for me?
You can try to contact the bank that the account is with by searching the internet with the routing number. However, it is not likely that they will give you that information for privacy reasons.
Your account and routing number from your account?
They are located on the bottom of your checks. First set of numbers in the bottom left are your "routing number" to your bank. The second set of numbers is the checking account number. The third set of numbers is the actual check number (should match the number in the top right corner.)
What does the word minimum mean in math?
The word minimum means that for instance if you had an equation like this,the minimum deposit for a new checking account is $75 that means that it can be $75 dollars or more.
What is the annual opportunity cost of a checking account that requires a 500 minimum balance to avoid service charges. Assume an interest rate of 3 percent?
15.00
What is the annual opportunity cost of a checking account with a 6.5 percent interest rate that requires a 350.00 minimum balance to avoid service charges?
$350 * 6.5% = $22.75
What is the difference between a interest bearing checking account and a NOW account?
An interest bearing account can be allowed withdraws immediately, like a regular checking account. A NOW account generally requires a seven day notice before money can be withdrawn. So they're similar, only one requires a notice to get money out of.
Is it a US checking account or an US checking account?
A US checking Account
What type of checking account requires a certain amount of money to be kept in it all time in order to avoid fees?
Minimum Balance account
Which type of checking account requires a certain amount of money to be kept in it at all times in order to avoid fees?
minimum balance account
How can one avoid monthly service fees on a Citibank checking account?
There are many types of Citibank checking accounts, some with no monthly fees such as Student Checking. Other monthly fee requirements differ by account, but in general options include keeping a minimum balance (Basic Checking requires $1500) or by making a minimum amount of certain transactions (Basic Checking requires one direct deposit and one BillPay).
How will it affect your credit score if lender requires you to have checking account so they can withdraw payments from each month?
Having a checking account has no effect on your credit score. Bouncing your checks has a big effect on your credit score.
How much cash must be deposited to open a checking account at the Whidbey Island Bank?
"Whidbey Island bank requires you to make a deposit of 100 dollars to open a checking account with them. If you are opening a savings account, you must deposit at least 150 dollars."
What is the meaning of the word or when it appears on checking account?
It means it is a joint account and either party can sign a check. If the word "and" appears, the check requires the signatures of both parties.
What is a checking account frequently referred to as?
A checking account is also called a transactional account or chequing account.
What is the difference between a money market account and a checking account?
When money is held in a checking account the money is liquid. It is always accessible. It can be withdrawn using checks, or electronic cards. A money market account however, is much like a certificate of deposit. It requires a larger amount of money in order to open the account and has a much higher interest rate.
