COSTS & FEATURES OF A CHECKING ACCOUNT Read each situation below, then circle the choice that you think is the best banking solution. In the last column, describe why you believe it was the best banking solution. 1 DR = 2% 2 SITUATION 102 7.50 1. Monica typically has about $750 in her checking account. She also uses a debit card wand online banking regularly. 750 Xby 2 7:03 The Vasquez family keeps a balance of $3,000 in their checking account. They use checks to pay their household bills and use their debit card sparingly. CHOICES a. Bank of Texas charges a $10 monthly fee for online banking. b. Bank of the South charges 2% of the checking account balance. a. Texas First charges 1% of the checking account balance. b. State Bank charges a $3 fee for each written check and a $5 per month debit card fee. EXPLANATION 7.50 Y 02- $15.00 Skyld Skylar has a part-time job and makes about $200 per week. She would like to be able to access her bank account online. a. First State Bank charges a $15 fee if the checking account balance falls below $1,000. b. Bank of the Republic charges a $7 online banking fee each quarter. oments are true. Correct any false
COSTS & FEATURES OF A CHECKING ACCOUNT Read each situation below, then circle the choice that you think is the best banking solution. In the last column, describe why you believe it was the best banking solution. 1 DR = 2% 2 SITUATION 102 7.50 1. Monica typically has about $750 in her checking account. She also uses a debit card wand online banking regularly. 750 Xby 2 7:03 The Vasquez family keeps a balance of $3,000 in their checking account. They use checks to pay their household bills and use their debit card sparingly. CHOICES a. Bank of Texas charges a $10 monthly fee for online banking. b. Bank of the South charges 2% of the checking account balance. a. Texas First charges 1% of the checking account balance. b. State Bank charges a $3 fee for each written check and a $5 per month debit card fee. EXPLANATION 7.50 Y 02- $15.00 Skyld Skylar has a part-time job and makes about $200 per week. She would like to be able to access her bank account online. a. First State Bank charges a $15 fee if the checking account balance falls below $1,000. b. Bank of the Republic charges a $7 online banking fee each quarter. oments are true. Correct any false
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
Related questions
Question
Transcribed Image Text:COSTS & FEATURES OF A CHECKING ACCOUNT
Read each situation below, then circle the choice that you think is the best banking solution.
In the last column, describe why you believe it was the best banking solution.
1 DR = 2%
2
SITUATION
102
7.50
1. Monica typically has about
$750 in her checking account.
She also uses a debit card
wand online banking regularly.
750
Xby
2
7:03
The Vasquez family keeps
a balance of $3,000 in their
checking account. They use
checks to pay their household
bills and use their debit card
sparingly.
CHOICES
a. Bank of Texas charges a
$10 monthly fee for online
banking.
b. Bank of the South charges
2% of the checking account
balance.
a. Texas First charges 1% of
the checking account balance.
b. State Bank charges a $3
fee for each written check
and a $5 per month debit
card fee.
EXPLANATION
7.50
Y
02-
$15.00
Skyld
Skylar has a part-time job
and makes about $200 per
week. She would like to be
able to access her bank
account online.
a. First State Bank charges a
$15 fee if the checking
account balance falls below
$1,000.
b. Bank of the Republic
charges a $7 online banking
fee each quarter.
oments are true. Correct any false
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