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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?

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?
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5 votes
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?

asked
User Luca Ditrimma
by
7.8k points

2 Answers

3 votes
2 x 12 = 24 euro fee
500 - 24 = 476 euros left over
476( 1 x 2%) = your answer
answered
User Algar
by
8.8k points
3 votes

Answer:

No

Explanation:

answered
User Mengmengxyz
by
8.2k points
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