Question

you put $500 in an interest bearing bank account that pays 2% per year but has a fee of $2 per month. are you getting ahead?

Answer 1

no

Explanation:

no

Answer 2

NO

Explanation:

If the bank account has a fee of $2 per month, it means that at the end of the year you will have $500 - $2 × 12 = 476.

If it pays 2% per year, then, at the end of the year you will receive: $476×0.02 = $9.52.

If you go ahead you will lose money ($14,48) . In order to earn money, you need to put more money.