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Based on the following information, what is the required collected balance to cover all monthly...

Based on the following information, what is the required collected balance to cover all monthly service charges?

Deposit Float$10,000

Reserve Requirement5%

Earnings Credit Rate15%

Monthly Service Charges$6,000

Days in month30

A.

$308,222

B.

$456,000

C.

$486,667

D.

$512,281

AFP CTP Summary

  • Vendor: AFP
  • Product: CTP
  • Update on: Oct 21, 2025
  • Questions: 1076
Price: $52.5  $149.99
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