1. Total costs for an ACH = $3.00 Total costs for a wire transfer = $30.00...
1. Total costs for an ACH = $3.00 Total costs for a wire transfer = $30.00 Annual earning rate = 2% Wire transfer accelerates funds three days faster than an ACH
A What is the break-even wire transfer amount?
B)What is the $ benefit of using wire if the transfer amount is $250,000?
Homework Answers
Ans 1 a) Since total cost of wire transer is $30 one to earn $30 achieve break even. We need to divide $30 by 2% to get break even amount which is equal to $30/.02 = $1500
Ans 1 b) Benefit = 2% of 250000 - $30
= $5000 - $30
= $4970
Add Answer to:
1. Total costs for an ACH = $3.00 Total costs for a wire
transfer = $30.00...
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