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Jack is considering a list of features and fees for Current Bank:

\begin{tabular}{|l|l|}
\hline
Feature & Description \\
\hline
Checking Account &
\begin{tabular}{l}
Free with direct \\
deposit of paycheck
\end{tabular} \\
\hline
Savings Account &
\begin{tabular}{l}
First account free, each \\
additional account \\
[tex]$\$[/tex] 4/[tex]$ month
\end{tabular} \\
\hline
Online Services &
\begin{tabular}{l}
Free with all checking \\
and savings accounts
\end{tabular} \\
\hline
\end{tabular}

\begin{tabular}{|l|l|}
\hline
Fees & Amount \\
\hline
Non-sufficient funds & $[/tex]\[tex]$ 32$[/tex] \\
\hline
\begin{tabular}{l}
Second copy of \\
statement
\end{tabular} & [tex]$\$[/tex] 3[tex]$ \\
\hline
Network ATM usage &
\begin{tabular}{l}
First 2 per month free, \\
$[/tex]\[tex]$ 3$[/tex] for each additional \\
transaction
\end{tabular} \\
\hline
\end{tabular}

Jack plans on using network ATMs about 4 times per month. What would be Jack's total estimated annual fees for a checking account with direct paycheck deposit, one overdraft per year, and no second copies of statements?

A. [tex]$\$[/tex] 44[tex]$
B. $[/tex]\[tex]$ 104$[/tex]
C. [tex]$\$[/tex] 144[tex]$
D. $[/tex]\[tex]$ 176$[/tex]

Sagot :

Let's break down the question step-by-step to determine Jack's total estimated annual fees for a checking account with direct paycheck deposit, one overdraft per year, and no second copies of statements:

1. ATM Fees:
- Jack plans on using network ATMs about 4 times per month.
- According to the Current Bank fees, the first 2 ATM transactions per month are free.
- For each additional transaction beyond the first 2, Jack is charged [tex]$3 per transaction. - Since Jack uses the ATM 4 times per month, he exceeds the free transactions by 2 (4 - 2). - Therefore, he will be charged for 2 additional transactions. Monthly ATM fees = 2 additional transactions * $[/tex]3 per additional transaction
[tex]\[ = 2 * 3 = \$6 \][/tex]

Annually, since there are 12 months in a year:
[tex]\[ Annual ATM fees = 6 * 12 = \$72 \][/tex]

2. Non-sufficient Funds Fee:
- Jack has one overdraft per year.
- The fee for non-sufficient funds (NSF) is [tex]$32. Annual NSF fee = $[/tex]32

3. Total Annual Fees:
- Now, let's add the annual ATM fees and the annual NSF fee.
[tex]\[ Total annual fees = Annual ATM fees + Annual NSF fee \][/tex]
[tex]\[ = 72 + 32 = \$104 \][/tex]

Therefore, Jack's total estimated annual fees are:
[tex]\[ \boxed{104} \][/tex]

The correct answer is:
[tex]\[ \text{b. } \$104 \][/tex]