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Raymond estimates the fixed costs associated with opening a new bank branch are $500,000. He estimates the branch will attract 1,000 new customers who will cost $50/year to service each of their accounts. He also expects to generate $100,000 in fees annually from these accounts. What will be the total cost of opening the new branch and remaining open for one year?
Sectors
Distinct subsets of the economy, categorized by the type of activity involved, such as the agriculture, manufacturing, or services sectors.
Japanese Yen
The official currency of Japan, symbolized as ¥ and known for its role in international trade and investment.
Dollar
The official currency of several countries, including the United States, often considered a benchmark and reserve currency worldwide.
Net Exports
The value of a country's total exports minus its total imports, representing the contribution of the trade balance to the overall GDP.
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