Multiple Choice
Use of Financial Calculator TI BA II Plus required. A bank chequing account charges a service fee of $12 per month. What would be the rate of interest you would need to earn from the bank on a $1000 deposit annually to cover the service charges?
A) 12 percent
B) 12.5 percent
C) 11.5 percent
D) 13.5 percent
Correct Answer:
Verified
Correct Answer:
Verified
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