Answered step by step
Verified Expert Solution
Question
1 Approved Answer
help need Check Writing Fees. Randy, a student, has $440 to deposit in a new checking account, but Randy knows he will not be able
help need
Check Writing Fees. Randy, a student, has $440 to deposit in a new checking account, but Randy knows he will not be able to maintain a minimum balance. He will not use an ATM card, but will write a large number of checks Randy is trying to choose between the unlimited check writing offered by South Trust and the low per-chock fee 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 Veronica) For the account at South Trust Bank to be the better option, the number of chucks Randy would need to write each month to Round to the nearest whole number) Data Table (Click on the icon located on the top right comer of the data table below In order to copy its contents into a spreadsheet) South Trust Bank Sun Coast Bank ATM charges: Home bank Free Free Other bank $143 perus $1.43 por use Checking: Minimum deposit $1 $1 Minimum balance required $500 NA to avoid fees Monthly fees $13.50 $650 Check-writing charges Unlimited Each check 25 cents NA means monthly fees apply irrespective of account balanced Enter your answer in Print Done Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started