7. jessie wants to open a checking account to pay bills. she wants a starter book of checks, plus free online bill payment
services. she analyzes the following statements of fees from good bank and great bank,
good bank
features and fees
- monthly fee, $s
• online bill payment, free
• debit cards, free
• zul copyrof statement, $?
200 checks, $8
network atm usage, 2 transactions per
month, free*
non-sufficient funds, $26
great bank
features and fees
- online bill payment services, fue
• debit card, free
network atm usage, $1.50
morthly fee, $6
non-sufficient funds fee, $24the first
time in any month, $26 the second tince,
and $30 the 3al and subsequent times in
the same month
starter check supply, $5
• replacement statement copy, $4
note: fees are subject to change.
*$3 for each additional network atm
transaction
based upon past experience, jessie expects to accidentally overdraft the account about 3 times per year, unfortunately all
in the same month, due to unexpected charges and miscommunications. she expects no 2 copies of statements, and to
use network atms 4 times per month with either bank. based on the tables of fees, which bank can be reasonably
expected to cost jessie the least amount in fees per year?
a. good bank will have the least amount in fees per year.
b. great bank will have the least amount in fees per year.
c. good bank and great bank would have the same costs for jessie.
d. the fees can simply not be estimated in advance, so no decision should be made.