To determine which checking account would be best for Becca, we must calculate the total monthly fees for each bank based on her usage of 12 checks and 4 ATM transactions per month.
Here's a detailed step-by-step solution for each bank account:
### Bank A:
- Monthly fee: \[tex]$12
- No fees for ATM usage
- No additional check fees
Total monthly cost for Bank A:
\[ \text{Total Cost}_A = \$[/tex]12 \]
### Bank B:
- Monthly fee: \[tex]$10
- No fees for checks as long as it's ≤ 15 checks per month
- No fees for using the bank's ATM
Total monthly cost for Bank B:
\[ \text{Total Cost}_B = \$[/tex]10 \]
### Bank C:
- Fee per check: \[tex]$0.08
- Number of checks: 12
- ATM fee: \$[/tex]2.50 per transaction
- Number of ATM transactions: 4
- No monthly fee with direct deposit
Total monthly cost for checks:
[tex]\[ 12 \times 0.08 = \$0.96 \][/tex]
Total monthly cost for ATMs:
[tex]\[ 4 \times 2.50 = \$10.00 \][/tex]
Total monthly cost for Bank C:
[tex]\[ \text{Total Cost}_C = \$0.96 (\text{checks}) + \$10.00 (\text{ATMs}) = \$10.96 \][/tex]
### Bank D:
- First 10 checks are free. For 12 checks, 2 checks will be charged.
- Fee per additional check: \[tex]$0.12
- Number of extra checks: 2
- ATM fee: \$[/tex]3.00 per transaction
- Number of ATM transactions: 4
- Monthly fee: \[tex]$2
Total cost for extra checks:
\[ 2 \times 0.12 = \$[/tex]0.24 \]
Total monthly cost for ATMs:
[tex]\[ 4 \times 3.00 = \$12.00 \][/tex]
Total monthly cost for Bank D:
[tex]\[ \text{Total Cost}_D = \$2 (\text{monthly fee}) + \$0.24 (\text{checks}) + \$12.00 (\text{ATMs}) = \$14.24 \][/tex]
### Summary of Total Monthly Costs:
- Bank A: \[tex]$12
- Bank B: \$[/tex]10
- Bank C: \[tex]$10.96
- Bank D: \$[/tex]14.24
### Conclusion:
Becca will have the lowest total monthly fees by choosing Bank B, which costs \$10 per month. Therefore, Bank B is the best checking account for Becca.
