Question

John is opening a new checking account at Bank United and is trying to calculate what his costs will

be. The account charges a fee of $0.20 per check and a $12.50 monthly maintenance fee. How much
would he pay in fees in 4 months if he writes 12 checks a month?

Answer 1

$59.60

Explanation:

Charge per check = $0.20

Monthly maintenance fee = $12.50

Total fees that will be paid in. 4 months :

Check written per month = 12

Charge per month :

Check fee + maintenance fee

(12 * 0.20) + 12.50

= $14.90 per month

In 4 months ;

$14.90 * 4 = $59.60