ASSIGNMENT 2 - BANK ACCOUNTS 1) Dana does most of her banking online or at an ATM. She keeps a minimum of $1400 every month in her account and does about 15 transactions. Which is the most suitable account for her needs? Complete the chart below to justify your choice. ACCOUNT OPTIONS Monthly fee paid Transaction Charges TOTAL Value Account Self-service Account Full-service Account 2) Dennis currently has a Value Account at the Northwest Bank of Canada. He makes 4 direct deposits per month and pays 7 bills online. Last month, he made 11 cash withdrawals from his bank's ATM and also made 4 debit purchases with his bank card. He keeps at least $1500 a month in his account. Calculate his service charges for each of the accounts, and suggest whether Dennis has chosen the best account for his needs ACCOUNT OPTIONS Monthly fee paid Transaction Charges TOTAL Value Account Self-service Account Full-service Account NORTHWEST BANK OF CANADA ACCOUNTS Value Account Self-service Account Full-service Account Savings Account Monthly Fee $3.90 $24.50 No fee $10.90 Students and Youth (under 18) save 50% on the monthly fee $1500.00 $1000.00 S2000.00 Fee waived (do not have to pay the fee) if monthly balance is at least this amount . Transactions covered 10 self-service 25 self-service 40 self-service or 2 debit transactions by monthly fee teller-assisted cheques No annual fee for credit card withdrawals bill payments direct deposits . debit purchases transfers to another account with Northwest Bank of Canada Charge for additional Self-service- Self-service- Self-service- Self-service or transactions not $0.50 each $0.50 each $0.25 each teller-assisted covered by monthly $1.25 each fee Teller-assisted Teller-assisted $1.00 each $1.00 each Non-Northwest Bank $1.50 each $1.50 each of Canada ATM withdrawals Interest paid None None None Daily interest that grows your balance Transaction Types Sell service Any transaction that does not require a bank teller. This includes withdrawals deposits, cheques. money transfers, direct payment purchases, and transactions made at an ATM, by telephone, or online, Telleraulted includes all transactions that require or use a fulles, such as I-branch withdrawals, branch payment, and traveller cheque and foreign currency purchases