Question

Referring to the equation for earnings on a checking account (I = rB − sx − f), where, if r = 0.0095, B = $2,000.00, s = 0, x = 28, and f = $4.00, what are the customer’s earnings for the month if her minimum balance is $2,000.00?

$8.00


$21.00


$15.00


$7.00

Answer 1

Based on the given equation for earnings on a checking account, we can substitute the given values to find the customer's earnings for the month if her minimum balance is $2,000.00:

I = rB - sx - f

I = 0.0095($2,000.00) - 0(28) - $4.00

I = $19.00 - $4.00

I = $15.00

Therefore, the customer's earnings for the month if her minimum balance is $2,000.00 is $15.00. Option C is the correct answer.