Use the Following Information to Answer the Question: a Current

question 11

Multiple Choice

Use the following information to answer the question: A current deposit account requires a minimum balance of $500 if annual interest of 5% is to be earned monthly on its deposits.An account holder has maintained an average balance of $300 for the first nine months of the year and $800 for the last three months of the year.She has written an average of 20 cheques a month and is not charged for these services.However, it costs the bank $0.02 to process each cheque.What is the average return earned (both explicit and implicit) by the account holder over the full year?

• A)2.98%
• B)3.48%
• C)4.28%
• D)4.79%

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Definitions:

Ethical Problem

A dilemma or situation that presents a challenge between two or more moral imperatives, where honoring one may result in transgressing another.

Physical Threats

Manifestations of potential harm to an individual's bodily integrity or well-being, often used as intimidation or to exert control.

Hostile Workplace

A work environment where harassment, discrimination, or inappropriate behavior occurs, making it difficult for employees to perform their duties.

Bullying

Repeated and targeted social, psychological, or physical harassment of an individual by another individual or group.