From an Analysis on Its Deposits,a Bank Determines That Account

question 97

Multiple Choice

From an analysis on its deposits,a bank determines that account processing and other operating expenses cost the bank $3.95 per month.It has also determined that non-operating expenses on its deposits are $1.35 per month.The bank wants to have a profit margin which is 10 percent of monthly costs.What monthly fee should the bank charge on its deposit accounts?

• A)$5.30 per month
• B)$3.95 per month
• C)$5.83 per month
• D)$5.70 per month
• E)None of the options is correct