Maggie wants to open a checking account that will be the least expensive given her normal financial transactions.She typically writes 15 checks a month and uses an ATM 35 times a month.Her monthly minimum checking balances falls to about $350 on an average.Which of the following accounts would be least expensive for Maggie? (Show all your work.)
Account A:
Account B:
Definitions:
Futures Contract
A formalized agreement that obligates the purchase or sale of a specific commodity or asset at an agreed-upon price at a future date.
Forward Contract
A non-standardized agreement to buy or sell an asset at a future date for a price agreed upon today.
Daily Resettlement
The process in futures trading where the gains or losses of the day are calculated, and accounts are adjusted accordingly to reflect the market value.
Forward Contract
A bespoke contract that allows two parties to trade an asset at a fixed price on a designated date in the future.
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