Saul Harrington is trying to decide between two banks. He plans to maintain a balance of $2000 in his checking account.
Bank A offers 0.2% interest per month, with no monthly fee. Bank A bank charges 2 cents per check.
Bank B offers 0.5% interest, but charges a $2.00 per month fee. Bank B charges 6 cents per check.
Compare the two banks. What is the earnings at the break even point for the two banks?
A. -$2.00
B. -$1.00
C. $1.00
D. $2.00
