Question

If the interest rate on a savings account is 0.01%, approximately how much money do you need to keep in this account for 1 year to earn enough interest to cover a single $9.99 below-minimum-balance fee?

Answer 1

The amount of money in the account for 1 year to earn enough interest to cover a single $ 9.99 below minimum balance fee is : $ 100,000

100 ,000 x 0.01 % = $ 10

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