Question

Based upon past experience, Jessie expects to accidentally overdraft the account about 3 times per year, unfortunately all in the same month, due to unexpected charges and miscommunications. She expects no 2nd copies of statements, and to use network ATMs 4 times per month with either bank. Based on the tables of fees, which bank can be reasonably expected to cost Jessie the least amount in fees per year?

a.
Good Bank will have the least amount in fees per year.
b.
Great Bank will have the least amount in fees per year.
c.
Good Bank and Great Bank would have the same costs for Jessie.
d.
The fees can simply not be estimated in advance, so no decision should be made.


Please select the best answer from the choices provided

A
B
C
D

Answer 1

a

Explanation:

Answer 2

The correct answer is option A.

A. Good Bank will have the least amount in fees per year.

Explanation:

Better Bank has a monthly fee of $5 which is lower than Great Bank with a monthly fee of $6, according to the table. Good Bank also allows ATMs to be used twice free of charge, so Jessie would pay only twice a month. These are basically the important features for Jessie, because she won't use checks and other things.