If a checking account has an interest rate of 1

Asked by admin @ 30/11/2021 in Business viewed by 358 People

If a checking account has an interest rate of 1% and a government bond has an interest rate of 2%, the opportunity cost of holding the checking account as money is:

Answered by admin @ 30/11/2021

Answer:

the opportunity cost of holding the checking account as money is 1%

Explanation:

The computation of the opportunity cost of holding the checking account as money is shown below:

= Interest rate on the government bond - interest rate on checking account

= 2% - 1%

= 1%

Hence, the opportunity cost of holding the checking account as money is 1%

We simply applied the given formula so that the correct percentage could come

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If a checking account has an interest rate of 1

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