Michelle Has Maintained an Average Balance of $300 Per Month

question 55

Multiple Choice

Michelle has maintained an average balance of $300 per month for the first three months of the year, $800 per month for the next three months, and $1,000 per month for the final six months of the year in a NOW account.It requires a minimum balance of $500 to be maintained if annual interest of 5 percent is to be earned.She writes an average of 25 checks per month but the account does not have a service charge for checks although it costs the bank 10 cents to process each check. Suppose the minimum balance to earn interest was lowered from $500 to $300 and she now pays a service charge of 5 cents per check.Note that it costs the bank 10 cents to process each check.What is her annual gross interest return?

• A)$53.75.
• B)$54.63.
• C)$52.06.
• D)$51.54.
• E)$55.37.

Identifying the need for ethical guidance regarding cultural differences in counseling.

Understanding the significance of family bonds, cultural traditions, and values orientation in counseling clients from diverse backgrounds.

Recognizing the essential components and conceptual framework of a multicultural counseling competency.

Identify appropriate and inappropriate behaviors and items to bring to an interview.

---

Definitions:

Rejection Region

The range of values in hypothesis testing that if attained or exceeded by the test statistic would lead to the rejection of the null hypothesis.

Weight Losses

Weight losses refer to the amount of weight that an individual or a group loses over a period, often measured in studies related to diet, fitness, or health interventions.

Lubricants

Substances applied to surfaces to reduce friction between them, thereby minimizing heat generation and wear during movement.

P-value Approach

A method in statistical hypothesis testing that determines the smallest level of significance at which the null hypothesis can be rejected, based on the observed data.