Multiple Choice
Assume the average management cost per account per year is $200 and the average fees earned per account per year is $170. The average annual size of account is $1800. What is the average implicit interest rate (round to two decimals) ?
A) -1.67 per cent
B) 1.67 per cent
C) 4.86 per cent
D) 15 per cent
Correct Answer:
Verified
Correct Answer:
Verified
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