Answered

Welcome to Westonci.ca, where you can find answers to all your questions from a community of experienced professionals. Ask your questions and receive detailed answers from professionals with extensive experience in various fields. Explore comprehensive solutions to your questions from knowledgeable professionals across various fields on our platform.

5 Points]
PREVIOUS ANSWERS BRECMBC9 4.11.004.
ou are looking for a bank in which to open a checking account for your new part-time business. You estimate that in the first year, you will be writing 30
ransactions per month. Your average daily balance is estimated to be $900 for the first six months and $2,400 for the next six months.
Use the following information to solve the problem.
DETAILS
Bank
Bank 1
Bank 2
Bank 3
Bank 4
Bank 1
Bank 2
Bank 3
$
Bank 4 $
Monthly Fees and Conditions
$16.00 with $1,000 min. daily balance
-or-
$25.00 under $1,000 min. daily balance
$
$4.50 plus $0.30 per check over 10 checks monthly
$1.00 per debit transaction
$5 plus $0.25 per check
$2.00 per debit transaction
(a) Calculate the cost (in $) of doing business with each bank for a year.
$
$8 plus $0.15 per check
$1.50 per debit transaction
(b) Which bank should you choose for your checking account?
MY NOTES
ASK

Sagot :

We hope our answers were helpful. Return anytime for more information and answers to any other questions you may have. Thanks for using our platform. We aim to provide accurate and up-to-date answers to all your queries. Come back soon. Westonci.ca is committed to providing accurate answers. Come back soon for more trustworthy information.