Question

Skippy's bank charges $13.95 per month for up to 15 transactions made in his checking account and $1.50 for each transaction after that. Last month he made 22 transactions. What was Skippy's total bank fee last month?

Answer 1

Skippy's total bank fee last month was $24.45 after making 22 transactions; $13.95 for the monthly fee plus $10.50 for the 7 extra transactions.

Step-by-step explanation:

To calculate Skippy's total bank fee for the month after making 22 transactions, we need to consider the fixed monthly charge for the first 15 transactions, and then the individual charge for each additional transaction beyond the initial 15. The fixed monthly charge is $13.95, and each additional transaction costs $1.50. Since Skippy made 22 transactions, he made 7 transactions beyond the limit of 15.

First, calculate the cost of additional transactions:
7 transactions × $1.50 per transaction = $10.50

Then, add the fixed monthly charge to the cost of additional transactions to find the total:
$13.95 (fixed charge) + $10.50 (additional transactions) = $24.45

Therefore, Skippy's total bank fee for the month is $24.45.

Answer 2

Skippy's total bank fee for last month was calculated as $24.45, which includes a flat fee of $13.95 and an additional fee of $10.50 for the 7 transactions over the included 15 transactions limit.

Step-by-step explanation:

Skipppy's total bank fee for the month can be calculated by considering both the flat fee for the first 15 transactions and the additional fee for each transaction beyond that limit. Skippy made a total of 22 transactions, so we can calculate the total cost using two components: the flat fee and the extra transaction fees.

Calculation of Total Bank Fee

Skippy's bank charges a flat fee of $13.95 for up to 15 transactions. Since Skippy made 22 transactions, which is 7 more than the 15 included in the flat fee, we must calculate the additional cost for these extra transactions. The bank charges $1.50 for each transaction over 15 transactions, so we multiply 7 (extra transactions) by $1.50 (cost per extra transaction).

Extra cost for transactions = 7 transactions × $1.50/transaction = $10.50

Now, we add the flat fee of $13.95 to the extra transaction fee of $10.50 to find the total bank fee for the month.

Total bank fee = Flat fee + Extra transaction fee

Total bank fee = $13.95 + $10.50 = $24.45

Therefore, Skippy's total bank fee for last month was $24.45.