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

If the interest rate on a savings account is 0.01 % , the amount of money that you need to keep in 1 year to cover a single $ 9.99 below minimum balance fee is : $ 100,000

0.01 % x $ 100,000 = $ 10

hope this helps