Question regarding the annual net cost
Annual interest of 5% paid if balance exceeds $800, $7 monthly fee if account falls below minimum balance, average monthly balance $1,160, account falls below 800 during 5 months. What is the annual net cost?
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Annual interest of 5% paid if balance exceeds $800, $7 monthly fee if account falls below minimum balance, average monthly balance $1,160, account falls below 800 throughout five months. What is the annual net cost?
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