Answer:
Option B - The income earned in one month is $5.50.
Step-by-step explanation:
Given : At River Bank, checking account customers earn 0.75% interest a month on their account balances, pay no service fees for writing checks, and pay a monthly $2.00 financial charge.
To find : The income earned in one month on the checking account for a customer with an account balance of $1,000.
Solution :
Account balance of customer= $ 1,000
Interest earned in checking account= 0.75%
Financial charge= $2.00
Therefore, Income earned in one month on the checking account is given by 0.75% of 1,000 - $2
i.e, [tex]=\frac{0.75}{100}\times 1000 -2[/tex]
[tex]=0.75\times 10 -2[/tex]
[tex]=7.5 -2[/tex]
[tex]=5.5[/tex]
So, Option B is correct.
The income earned in one month is $5.50.
