q1, Other Engineering

5) Dupree Funds is considering the fees charged by two banks. First America charges a flat rate of $0.11 per payment and First Western requires a deposit of $500,000 (that does not pay interest to Dupree), plus $.05 per payment. What is the number of payments per year where the costs of the two banks will be equal? Assume Dupree''s cost of funds is 9%.
Posted Date: 4/21/2012 9:09:34 PM | Location : United States







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