Multiple Choice
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.
Correct Answer:
Verified
Correct Answer:
Verified
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