Ask Question
22 June, 16:07

The bank is considering paying interest to customers carrying daily checking account balances in excess of a certain amount. If the bank does not want to pay interest to more than 4% of its checking account customers, what is the minimum daily balance on which it should be willing to pay interest? (Round your answer to the nearest dollar)

+2
Answers (1)
  1. 22 June, 17:25
    0
    If the amount is 1 for example,

    And the bank does not want to pay more than 4%, then the amount will be,

    4/100 * 1 = 0.04
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “The bank is considering paying interest to customers carrying daily checking account balances in excess of a certain amount. If the bank ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers