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1)to determine the best bank for Julie.) Selecting a Bank. Julie wants to open a bank account with $94 Julie estimates that she will write

1)to determine the best bank for Julie.)Selecting a Bank.Julie wants to open a bank account with $94 Julie estimates that she will write 19

checks per month and use her ATM card at the home bank. She will maintain a monthly balance of $600. Which bank should Julie choose?

(Hint: Use the table, to determine the best bank for Julie.)

Hillsboro Bank

First National

South Trust Bank

Sun Coast Bank

ATM charges:

Home bank

Free

Free

Free

Free

Other bank

5

free, then

$0.87

per use

$1.12

per use

$1.12

per use

$1.12

per use

Checking:

Minimum deposit

$100

$33

$1

$1

Minimum balance required to avoid fees*

N/A

N/A

$500

N/A

Monthly fees

$6.22

$7.25

$11.40

$2.59

Check-writing charges

10

free, then

$0.82

per check

5

free, then

$0.82

per check

Unlimited

Each check

$0.41

* N/A means monthly fees apply irrespective of account balances.

2)Adjusted Bank Balance.Mary's last bank statement showed an ending balance of $169.46 This month, she deposited $ 650.26 in her account and withdrew a total of $240.81 Furthermore, Mary wrote a total of five checks, two of which have cleared. The two checks that have cleared total $144.01 The three remaining checks total $111.33 Mary pays no fees at her bank. What is the balance shown this month on Mary's bank statement? What is the adjusted bank balance?

a)The balance shown this month on Mary's bank statement is $

b)The adjusted bank balance is $.

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