Selecting a Bank. Julie wants to open a bank account with $43. Julie estimates that she will write 23 checks per month and use her ATM card at the home bank. She will maintain a monthly balance of $500. Which bank should Julie choose? Hillsboro Bank First National South Trust Bank Sun Coast Bank ATM charges: Home bank Free Free Free Free Other bank 5 free, then $1.15 per use $1.40 per use $1.40 per use $1.40 per use Checking: Minimum deposit $100 $28 $1 $1 Minimum balance required to avoid fees* N/A N/A $500 N/A Monthly fees $8.66 $10.11 $15.88 $3.61 Check-writing charges 15 free, then $0.85 per check 10 free, then $0.85 per check Unlimited Each check $0.43 * N/A means monthly fees apply irrespective of account balances. Based on the information given in the chart, which bank should Julie choose?
Master Budget
A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.
Sales Budget and Selling
A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.
Selecting a Bank. Julie wants to open a bank account with $43. Julie estimates that she will write 23 checks per month and use her ATM card at the home bank. She will maintain a monthly balance of $500. Which bank should Julie choose?
|
|
Hillsboro Bank
|
First National
|
South Trust Bank
|
Sun Coast Bank
|
|
ATM charges:
|
|
|
|
|
|
Home bank
|
Free
|
Free
|
Free
|
Free
|
|
Other bank
|
5
free, then$1.15
per use |
$1.40
per use |
$1.40
per use |
$1.40
per use |
|
Checking:
|
|
|
|
|
|
Minimum deposit
|
$100
|
$28
|
$1
|
$1
|
|
Minimum balance required to avoid fees*
|
N/A
|
N/A
|
$500
|
N/A
|
|
Monthly fees
|
$8.66
|
$10.11
|
$15.88
|
$3.61
|
|
Check-writing charges
|
15
free, then$0.85
per check |
10
free, then$0.85
per check |
Unlimited
|
Each check
$0.43
|
|
* N/A means monthly fees apply irrespective of account balances.
|
Based on the information given in the chart, which bank should Julie choose?
Trending now
This is a popular solution!
Step by step
Solved in 3 steps with 2 images
