1. Rosie writes an average of 18 checks a month, and carries an average balance of $795 (although it has fallen below $750 during 3 months of the past year). She has $15,000 in a CD at the bank, and she adds $100 a month to her savings account, which now has $1,500. Her bank offers the types of accounts show below. Calculate the annual costs of the different plans and recommend the best for Nancy.

Regular checking, per-item plan: service charge of $3/month plus 35/check.
Regular checking, flat-fee plan, monthly fee $7 regardless of number of check. Fee waived if balance above $750.
Interest checking, monthly fee $7, interest of 1.5% compounded daily. Fee waived if minimum balance above $1,500.