Ask Question
2 April, 18:12

What would be the net annual cost of the following checking accounts? (a) Monthly fee, $3.25; processing fee, $0.35 cents per check; checks written, an average of 20 a month. (Do not round intermediate calculations. Input the answer as a positive value. Round your answer to 2 decimal places.)

+5
Answers (1)
  1. 2 April, 18:40
    0
    Total annual cost = $123

    Explanation:

    Giving the following information we need to calculate the annual cost:

    Fixed monthly cost = $3.25

    Variable cost = $0.35 per check

    Q=20 month

    Total annual cost = Fixed monthly cost*12 + (Variable cost*20) * 12

    Total annual cost = (3,25*12) + (0,35*20) * 12 = $123
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “What would be the net annual cost of the following checking accounts? (a) Monthly fee, $3.25; processing fee, $0.35 cents per check; checks ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers