Selecting a Bank Answers

Emma is ready to open a new checking account and is trying to decide between three banks using the chart below:Bank RBank SBank TNo monthly fees if balance stays above $300, otherwise $7 per monthNo monthly fees if check card is used more than 6 times per month, otherwise $10 monthly fee$5 monthly feeNo minimum balance$25 minimum balanceNo minimum balanceOnline banking servicesOnline banking servicesNo online banking optionsNon-Bank R ATM fee - $2.00 per transactionNon-Bank S ATM fee - $1.50 per transactionNon-Bank T ATM fee - $2.00 per transactionEmma usually has about $1000 in her account at any given time during the month. She usually visits the ATM twice a week and is interested in banking online options. Bank R has 10 ATMs within a 5 mile radius of Emma’s home. Bank S has 1 ATM 10 miles from Emma’s work. Which bank should she choose?

Sharon wants to open a checking account from which to pay bills. She wants online services, and a debit card, which both banks provide for free. Based upon past experience, she expects to accidentally overdraft the account 1 time per year, 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. She has $3300 in an emergency savings account at First State Bank, and thinks that the balance will be enough to cover overdrafts in the future if automatic transfers are made when needed. Based on the tables of fees, above, if Sharon chooses First State Bank, will it save her money over choosing Common Bank?

Macky wants to open a checking account. He is examining different banks and banking accounts. Then he will choose a bank account for his needs. Which of the following statements should not be one of Macky’s reasons for choosing a bank?

Why is it sometimes easier to open an account with a bank rather than with a credit union?

Barry wants to open a checking account. He wants online services, and a debit card. He is looking at the following tables of fees from his employer's credit union, EECU, and a local bank, E-town Bank: Based upon past experience, Barry expects no overdrafts. He expects no 2nd copies of statements. Barry estimates that he will use network ATMs about 5 times a month with either bank. Barry decides in the end to choose EECU. Assuming that both banks provide the necessary services equally well, and based upon the tables of fees given above, how much can Barry reasonably expect to save annually by choosing EECU in this case over E-town bank?

Which of the following items may be a good consideration in selecting a bank?I. The bank sends a representative to the local mall to promote new applications.II. Number of ATMs or bank branches near where you live, shop, work, or travel.III. Knowledge of personal usage habits and needs.

Vítor knows he must prepare and possibly prevent overdraft funds fees since they are charged automatically. Which statement below would be the least effective element of a plan Vitor could use to accurately estimate (or minimize) overdraft fees on the account?

Which of the following items may be a good consideration in selecting a bank?I. The bank sends a representative to the local mall to promote new applications.II. Number of ATMs or bank branches near where you live, shop, work, or travel.III. Knowledge of personal usage habits and needs.

Bill wants to open a checking account to pay bills from and a savings account to cover overdrafts and other emergencies. He wants online services, and a debit card. He analyzes the following statements of fees from State Bank and Common Bank: Based upon past experience, Bill expects to accidentally overdraft the account 2 times per year, unfortunately, due to unexpected charges and miscommunications. He expects no 2nd copies of statements, and to use network ATMs 4 times per month with State Bank (due to less in-network ATMs being available), or 2 times per month with Common Bank. He has $2500 to deposit to an emergency savings account for overdraft protection, and thinks that the balance will be enough to cover most all overdrafts in the future if automatic transfers are made when needed. Based on the tables of fees, which bank is expected to cost the least amount in fees per year?

You are examining your choices of banks to open a new checking account. Potential costs include monthly maintenance fees, statement copy fees, and ___________.

The actual income for this month has been reduced by $200. How can this budget be modified so there will be a positive actual net income? Monthly BudgetBudgeted AmountActual AmountIncome Wages$1250$1050Expenses Rent Utilities Food Clothes Cell Phone$450$150$220$200$75$____$____$____$____$____Net Income$155$____

A family eats out at a restaurant and the total for their meals is $73.89. They also pay sales tax of 5.8% and leave a tip for their server. If the family leaves a total of $93, which of the following might be a description of the service they received?

Using the following prices, calculate the unit price to determine how much it would cost for 7 granola bars and 9 bottles of water.$7.14 for 6 granola bars$8.72 for 8 bottles of water

Leiff goes online to buy a new video game. He finds a site that currently has a promotion of 15% off on all orders over $50. Leiff decides to buy his video game, with a price tag of $128, at this site because he knows that he will get the 15% discount when he checks out. Leiff pays 5.3% sales tax on the discounted price and pays a shipping fee of $4.75. What is the total of Leiff’s online purchase?

Predict how much money can be saved without having a negative actual net income. Monthly Budget Budgeted Amount Actual Amount Income Wages Savings Interest $1150 $25 $900 $25 Expenses Rent Utilities Food Cell Phone Savings $400 $100 $250 $75 $200 $400 $80 $200 $75 $____ Net Income $150 $____

Nellie is buying bird seed to put in her bird feeders. She uses about 10 pounds of bird seed each week, but has room to store any extra that she purchases.The bird seed comes in 3 different sizes as given below: 3.5 pounds for $2.52 7.5 pounds for $5.40 11 pounds for $7.92 Nellie is trying to be a smart shopper and get the best deal on the bird seed. Which size bag of bird seed should Nellie buy?

Using the following prices, calculate the unit price to determine how much it would cost for 5 containers of yogurt and 3 containers of applesauce.$4.29 for 6 containers of yogurt$3.39 for 8 containers of applesauce

You have a restaurant bill of $73.25. If you are taxed % and decide to tip your server 15%, how much is your total?

Mr. Green orders some cookies from a local youth group. Using his order form shown below, complete the last column to find the total to be paid.QuantityDescriptionUnit PriceTotal of Line2Krispy Kosmos$2.89$1Chewy Chocos$3.19$1Gooey Globs2.99$ Total $ 5.8% tax$ Total to be paid$

A pharmacist is trying to stock the pharmacy with cheaper alternatives for customers. She will stop carrying the more expensive items. In doing so, she is trying to determine which of the following forms is the most expensive. Tablet form comes in 50 mg tablets and cost $75.00 for a bottle of 100 tablets.Capsule form comes in 75 mg capsules and cost $63.75 for a bottle of 85 capsulesCaplet form comes in 100 mg caplets and cost $70.00 for 40 caplets.Based on the given information, which form is the most expensive?