Answer:
$4
Explanation:
We are told that Roxanne:
- Has a checking account only
- Uses online banking
- Uses the bank ATM once a month
- Uses a nonbank ATM twice a month
We need to work out how much it costs for Roxanne to bank with each bank each month, then compare the total costs to see how much Roxanee could save if she switch from East Median to Jasmine bank.
Cost of monthly banking at East Medina Bank:
Checking account services = $6
Online banking = $5 (remember, she doesn't have a linked savings a/c)
ATM (1 use) = $1
nonbank ATM (2 uses) = $6
Total = $18
Cost of monthly banking at Jasmine Bank:
Checking account services = $10
Online banking = $4
ATM (1 use) = $0
nonbank ATM (2 uses) = $0
Total = $14
To calculate the money Roxanne could save by switching to Jasmine Bank, simply find the difference between the monthly costs:
Savings = $18 - $14 = $4