7. BUSINESS DECISION: CHOOSING A BANK?
You are looking
for a bank in which to open a checking account for your new part-time business. You estimate that in the first year, you will be writing 30 checks per month and will make three debit transactions per month. Your average daily balance is estimated to be $900 for the first six months and $2,400 for the next six months. Use the following information to solve the problem.
?Round your answers to the nearest cent.
?BankMonthly Fees and ConditionsIntercontinental Bank$14.00 with $1,000 min. daily balance
??$24.00 under $1,000 min. daily balanceCity National Bank$4.20 plus $0.50 per check over 10 checks monthly
??$1.20 per debit transactionBank of America$5.00 plus $0.25 per check
??$2.50 per debit transactionFirst Union Bank$10.00 plus $0.15 per check
??$1.60 per debit transaction
?a. Calculate the cost of doing business with each bank for a year.
Intercontinental Bank: $
City National Bank: $
Bank of America: $
First Union Bank: $
This question was answered on: Apr 19, 2020Buy this answer for only: $15
This attachment is locked
Pay using PayPal (No PayPal account Required) or your credit card . All your purchases are securely protected by .
About this QuestionSTATUS
Apr 19, 2020EXPERT
YES, THIS IS LEGAL
We have top-notch tutors who can do your essay/homework for you at a reasonable cost and then you can simply use that essay as a template to build your own arguments.
You can also use these solutions:
- As a reference for in-depth understanding of the subject.
- As a source of ideas / reasoning for your own research (if properly referenced)
- For editing and paraphrasing (check your institution's definition of plagiarism and recommended paraphrase).
NEW ASSIGNMENT HELP?
Order New Solution. Quick Turnaround
Click on the button below in order to Order for a New, Original and High-Quality Essay Solutions. New orders are original solutions and precise to your writing instruction requirements. Place a New Order using the button below.
WE GUARANTEE, THAT YOUR PAPER WILL BE WRITTEN FROM SCRATCH AND WITHIN A DEADLINE.