-
+1 - 312-224-1615
Get in touch with us
-
support@helpwithassignment.com
Send us an e-mail
Solution Library
Calculate Average Implicit Interest Rate And Gross Interest Return Calculation
Question
1. What is the average implicit interest rate on a $100,000 account if the bank's average management costs are $2,500 and annual fees average $1,750?
a. 4.25 percent.
b. 2.50 percent.
c. 1.75 percent.
d. 0.75 percent.
e. -0.75 percent.
2. An FI offers a $2,500 minimum balance NOW account paying 4 percent annual interest, and there are no service charges as long as the customer maintains the minimum balance. The customer maintains a balance of $5,000, and averages 750 checks per year. Each check has a processing cost to the FI of $0.15. What is the annual gross interest return on this account to the customer?
a. $112.50.
b. $100.00.
c. $312.50.
d. $137.50.
e. $212.50.
Summary
These multiple choice questions belong to Finance. The 1st question is about calculating the average implicit interest rate for $100,000 with average management cost and annual fees added. The 2nd question is about calculation of gross interest return by a bank which offers $2500 minimum balance account and 4% interest rate.
Total Word Count 23
WHAT OUR STUDENTS SAY
I had trouble finding the relevant material for the thermal physics assignment essay and I really wanted some help with writing my assignment. The thermal physics assignment expert at HwA really understood the crux of the assignment question and delivered an excellent quality assignment essay that helped me score an A.
Lauren Ebert Student
My final year research paper was on the Use of Social Media Channels for Branding in the Tourism industry. This wonderful topic was suggested by the research writing expert of TheReliableTutor.com and since then he had guided me so much so that I eventually came to know about so many things. The extensive research done by the research expert helped me get a good grade and I also learned how to conduct secondary research on the internet from him."
Hannah Thomson Student
I had no clue about my Galvanic Cell assignment till I chatted with one of the chemistry experts of HwA. The expert made the concepts crystal clear to me and helped me with the assignment. I got good grades and recommended this site to my friend.
Ricky May Student
To be honest, chemical engineering is not my field. However, I had to deal with heat transfer assignments during one of my metallurgy assignments. The experts here are spot on and helped me get good grades without any hassle. The experience had been wonderful to say the least.
Peter Crow Student
Their services are absolutely spot on. The online corporate finance assignment helpers pay attention to the littlest suggestion that you have mentioned and structure the assignment writing accordingly. I am very impressed with the time and effort they put into each and every corporate finance assignment help.
John Rees Student
Comments
this is a very good website
I have 50 questions for the same test your page is showing only 28
hi can you please help or guide me to answer my assignments. thanks
hi can anyone help or guide me to my assignments. thanks
This solution is perfect ...thanks
Hello Allison,I love the 2nd image that you did! I also, had never heard of SumoPaint, is something that I will have to exolpre a bit! I understand completely the 52 (or so) youtube videos that you probably watched. Sometimes they have what you want, sometimes they don't! However, it is always satisfying when you are able to produce something that you have taught yourself. Great job!Debra 0 likes
Perfect bank of solution.
great !
thanks for the quick response. the solution looks good. :)
thnx for the answer. it was perfect. just the way i wanted it.
works fine.