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Check Writing Fees. Randy, a student, has $482 to deposit in a new chequing account but Randy knows he will not be able to maintain
Check Writing Fees. Randy, a student, has $482 to deposit in a new chequing account but Randy knows he will not be able to maintain a minimum balance Ho will not use an ATM card, but will write a large number of cheques Randy is trying to choose between the unlimited check writing offered by South Trust and the low per-check foe offered by Sun Coast. How many checks would Randy have to write each month for the account at South Trust to be the better option? (Hint Use the table, to determine the best bank for Randy) For the account at South Trust Bank to be the better option, the number of checks Randy would need to write each month is (Round to the nearest whole number) i Data Table Free $1.27 per use Home bank Free Other bank $1.27 per use Checking: Minimum deposit $1 Minimum balance required $500 to avoid fees* Monthly fees $6.00 Check-writing charges Unlimited $1 N/A $2.00 Each cheque 50
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