﻿ You have \$5,400 to deposit. If you deposit the money in a savings account at your local bank, you will earn 1.49% annual interest and will be able to make ATM withdrawals at your bank’s ATMs. If you deposit the money in an online savings account, you will earn 4.44% annual interest, but you will be charged \$5 every time you make an ATM withdrawal. Assuming that your ATM withdrawals do not reduce the amount of interest you earn, roughly how many times a year can you make an ATM withdrawal in order for the local savings account to be a better deal than the online savings account? a. 32 b. 27 c. 22 d. 15 - AssignmentGrade.com

# You have \$5,400 to deposit. If you deposit the money in a savings account at your local bank, you will earn 1.49% annual interest and will be able to make ATM withdrawals at your bank’s ATMs. If you deposit the money in an online savings account, you will earn 4.44% annual interest, but you will be charged \$5 every time you make an ATM withdrawal. Assuming that your ATM withdrawals do not reduce the amount of interest you earn, roughly how many times a year can you make an ATM withdrawal in order for the local savings account to be a better deal than the online savings account? a. 32 b. 27 c. 22 d. 15

QUESTION POSTED AT 29/05/2020 - 03:22 PM

\$5,400 × 0.0149 = \$80.46
\$5,400 × 0.0444 = \$239.76

\$239.76 − \$80.46 = \$159.30

\$159.30 / (\$5/withdrawal) = 31.86 withdrawals

## Related questions

### Compared to attending a technical school, completing a four-year college degree allows you to enjoy lower educational costs enter the workforce sooner avoid student loans select from a wide range of careers

QUESTION POSTED AT 02/06/2020 - 02:03 AM

### What is likely to happen if a borrower misses a payment on a credit card account?

QUESTION POSTED AT 02/06/2020 - 02:01 AM

### Which term refers to looking at merchandise at a traditional store and then purchasing the merchandise online?

QUESTION POSTED AT 02/06/2020 - 02:01 AM

### A sold merchandise for cash subject to a sales tax accepting cash will be recorded with a a. credit to an asset account. b. debit to a liability account. c. debit to capital. d. none of the above

QUESTION POSTED AT 02/06/2020 - 01:57 AM

### Which of the following phrases describes money?

QUESTION POSTED AT 02/06/2020 - 01:47 AM

### The overall process of dealing with all aspects of acquiring, keeping, and growing customers is referred to as ________.

QUESTION POSTED AT 02/06/2020 - 01:45 AM

### The rate quoted in the bond contract used to calculate the cash payments for interest is called the:

QUESTION POSTED AT 02/06/2020 - 01:42 AM

### Financial managers should primarily focus on the interests of:

QUESTION POSTED AT 02/06/2020 - 01:39 AM

### How do years of teaching add to teacher payments?

QUESTION POSTED AT 02/06/2020 - 01:12 AM

### How do central banks govern the banking industry? Check all that apply. by deciding how much banks must keep in reserve by overseeing the nation’s payment system by supervising the loan process at banks by printing money for distribution to banks by responding quickly to banking crises that occur by auditing banks based on current regulations

QUESTION POSTED AT 01/06/2020 - 04:21 PM

### The safest action to take if someone claiming to be from your bank calls you to ask you for account information?

QUESTION POSTED AT 01/06/2020 - 04:08 PM

### Suppose that Dr. Reilly owns a medical clinic and he enters into a contract to buy 500 tablets of Gensol from Pharzime. The Gensol that he orders are 200 milligrams each. The Gensol tablets that are delivered however are 100 milligrams each, shipped in boxes of 25 tablets. Pharzime states that it will replace the Gensol with the correct size tablets. Decide.

QUESTION POSTED AT 01/06/2020 - 04:01 PM

### Which of the following is one of the basic economic decisions people must face in any economy? A)Who should be hired for the job? B)What delivery method should be used to get the product to the customer? C)How should these goods and services be produced? D)What price should be charged for any product?

QUESTION POSTED AT 01/06/2020 - 03:16 PM

### I just turned 18, an I want to apply for a car loan. But as we all know, I don't have credit. I was think of having my mom co sign an all that but she doesn't have the best credit, does anyone know exactly how that would work? Would they also require you to put money down?

QUESTION POSTED AT 01/06/2020 - 02:51 PM

### Which of the following does economics examine? a. scarcity b. abundance c. money d. poverty Section is on Economics .

QUESTION POSTED AT 01/06/2020 - 02:48 PM

### Speaking loudly enough that everyone in the audience can hear you pronouncing words very clearly and speaking at a normal pace using dramatic gestures to emphasize important points making eye contact with the audience t

QUESTION POSTED AT 01/06/2020 - 02:19 PM

### What is the maximum amount you would pay for an asset that generates an income of \$250,000 at the end of each of five years, if the opportunity cost of using funds is 8 percent?

QUESTION POSTED AT 01/06/2020 - 01:57 PM

### You just inherited ?\$12 comma 00012,000. while you plan to squander some of it? away, how much should you deposit in an account earning 44?% interest per year if? you'd like to have ?\$12 comma 00012,000 in the account in 88 ?years?

QUESTION POSTED AT 01/06/2020 - 01:40 PM

### In a mental status exam, it is important to determine if the individual's sensorium is clear and if he/she is "oriented times three." this refers to

QUESTION POSTED AT 01/06/2020 - 01:36 PM

### Beatrice becomes unresponsive and withdraws during disputes with her partner. according to gottman, this is an example of

QUESTION POSTED AT 01/06/2020 - 01:33 PM

### William was a factory worker in the 1920s. his company trained him in the exact sequence of steps he needed to make each day so that he would work to maximum productivity. william's company was using the principles of

QUESTION POSTED AT 01/06/2020 - 01:32 PM

### Moe blunt came into jan's hardware store and purchased a hammer for \$16.75 plus a 5% tax. the total sales plus tax was:

QUESTION POSTED AT 01/06/2020 - 01:29 PM

### In order to obtain a conviction for price fixing under the sherman antitrust act, the government needs to prove:

QUESTION POSTED AT 01/06/2020 - 01:11 PM

### After the civil war, what became the major form of business organization because of its ability to raise money through the sale of shares of stock?

QUESTION POSTED AT 01/06/2020 - 01:03 PM

### Contractionary fiscal policy that reduces the budget deficit may _____________ business investment by _________________ interest rates.

QUESTION POSTED AT 01/06/2020 - 01:01 PM

### An open market purchase by the fed has a tendency to: a. increase the demand for bonds, drive up bond prices, and raise interest rates. b. increase the demand for bonds, drive up bond prices, and lower interest rates. c. increase the supply of bonds, drive down bond prices, and raise interest rates. d. increase the supply of bonds, drive down bond prices, and lower interest rates.

QUESTION POSTED AT 01/06/2020 - 12:58 PM

### If you have a questioned item on your travel charge card bill, with whom do you first try to resolve it?

QUESTION POSTED AT 01/06/2020 - 12:51 PM

### "consider noah's decision to go to college. if he goes to college, he will spend \$80,000 on tuition, \$15,000 on room and board, and \$4,000 on books. if he does not go to college, he will earn \$22,000 working in a store and he will spend \$13,000 on room and board. noah's cost of going to college is"

QUESTION POSTED AT 01/06/2020 - 12:46 PM

### Which accounting assumption assumes that all accounting information can be reported monthly or yearly?

QUESTION POSTED AT 01/06/2020 - 12:21 PM

### Joan wants to get a \$1,000 loan from her local bank. she finds out the current interest rate is 17%. would you advise her to get the loan or to not get the loan.

QUESTION POSTED AT 01/06/2020 - 12:08 PM