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30 August, 14:15

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)

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  1. 30 August, 14:25
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    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
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