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Becca has [tex]\$500[/tex] to open a checking account. She wants an account with the lowest fees. She writes about 12 checks per month, and her employer has direct deposit. She plans to only use her bank's ATM four times a month.

Bank Account Terms and Conditions

\begin{tabular}{|c|c|c|c|c|c|}
\cline { 2 - 6 } \multicolumn{1}{c|}{} & \begin{tabular}{c}
Minimum \\
Balance
\end{tabular} & \begin{tabular}{c}
Online \\
Banking
\end{tabular} & Check Limits & ATM Fees & Monthly Fee \\
\hline A & [tex]\$500[/tex] & yes & unlimited & \begin{tabular}{c}
[tex]\$0[/tex] for all \\
ATMs
\end{tabular} & [tex]\$12[/tex] \\
\hline B & [tex]\$250[/tex] & yes & 15 per month & \begin{tabular}{c}
[tex]\$0[/tex] for ABC \\
bank ATMs
\end{tabular} & [tex]\[tex]$10[/tex] \\
\hline C & [tex]\$[/tex]50[/tex] & yes & [tex]\$0.08[/tex] each & \begin{tabular}{c}
[tex]\$2.50[/tex] per \\
transaction
\end{tabular} & \begin{tabular}{c}
[tex]\$0[/tex] with direct \\
deposit
\end{tabular} \\
\hline D & [tex]\$100[/tex] & no & \begin{tabular}{c}
over 10: [tex]\[tex]$0.12[/tex] \\
each
\end{tabular} & \begin{tabular}{c}
[tex]\$[/tex]3[/tex] per \\
transaction
\end{tabular} & [tex]\$2[/tex] \\
\hline
\end{tabular}

Which checking account would be best for Becca?

A. Account A

B. Account B

C. Account C

D. Account D

Sagot :

GinnyAnsweridn
To determine which checking account would be best for Becca, we need to consider the monthly costs associated with each account, based on Becca's planned usage: writing 12 checks per month, using her bank's ATM four times a month, and having direct deposit.

Let's go through each account and calculate the monthly fees:

### Account A
- Monthly Fee: \[tex]$12 (fixed) - Checks: Unlimited, so no additional cost for checks - ATM Fees: \$[/tex]0 per transaction for all ATMs

Total Monthly Cost for Account A:
[tex]\[ \$12 \][/tex]

### Account B
- Monthly Fee: \[tex]$10 (fixed) - Checks: 15 free checks per month, so no additional cost for checks - ATM Fees: \$[/tex]0 per transaction for ABC bank ATMs (assume Becca uses ABC bank ATMs)

Total Monthly Cost for Account B:
[tex]\[ \$10 \][/tex]

### Account C
- Monthly Fee: \[tex]$0 with direct deposit - Checks: \$[/tex]0.08 per check
- ATM Fees: \[tex]$2.50 per transaction Calculating the additional fees: \[ \text{Check Fees} = 12 \text{ checks} \times \$[/tex]0.08 = \[tex]$0.96 \] \[ \text{ATM Fees} = 4 \text{ uses} \times \$[/tex]2.50 = \[tex]$10.00 \] \[ \text{Total Fees} = \$[/tex]0.96 + \[tex]$10.00 = \$[/tex]10.96
\]

Total Monthly Cost for Account C:
[tex]\[ \$10.96 \][/tex]

### Account D
- Monthly Fee: \[tex]$2 (fixed) - Checks: \$[/tex]0.12 per check over 10 checks
- ATM Fees: \[tex]$3 per transaction Calculating the additional fees: \[ \text{Check Fees} = (12 - 10) \text{ checks} \times \$[/tex]0.12 = 2 \text{ checks} \times \[tex]$0.12 = \$[/tex]0.24
\]
[tex]\[ \text{ATM Fees} = 4 \text{ uses} \times \$3.00 = \$12.00 \][/tex]
[tex]\[ \text{Total Fees} = \$0.24 + \$12.00 = \$12.24 \][/tex]

Total Monthly Cost for Account D:
[tex]\[ \$2 + \$12.24 = \$14.24 \][/tex]

### Summary of Monthly Costs for Each Account
- Account A: \[tex]$12 - Account B: \$[/tex]10
- Account C: \[tex]$10.96 - Account D: \$[/tex]14.24

### Best Option for Becca
The account with the lowest monthly fee is Account B, with a total cost of \$10 per month.

Therefore, the best checking account for Becca is Account B.
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