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%, you need $1,000 to keep in this account for 1 year to earn enough interest to cover a single $9.99 Below-Minimum-Balance Fee. Thank you for posting your question. I hope that this answer helped you. Let me know if you need more help.