Q.4085 Spike Bank determines from an analysis of its cost-accounting figures that for each $1,000 minimum-balance checking account it transacts, account processing and other operating costs will average $10.00 per month. Further, its overhead expenses will run an average of $4.00 per month. The bank’s goal is to achieve a profit margin over these particular costs of 5% of the total monthly expenses. What monthly fee should it charge a customer who opens a checking account?