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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]
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]
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