# solution

solution.

1. You want to open a checking account with a \$500 deposit. You estimate you will write 10 checks a month and use an ATM from other banks about twice a week. Bank A charges \$1 per check if you drop under a minimum balance of \$100, but you can use another bankĂ˘â‚¬â„˘s ATM without a fee. Bank B has free checking but charges \$1Ă‚Â each time you use another bankĂ˘â‚¬â„˘s ATM. Calculate the difference in fees between the two banks over the course of one year for the following scenarios:

a. Your balance slips below \$100 every other month.

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b. Your balance slips below \$100 every other month, but you are now able to pay a bill online each month, dropping the number of checks you have to write to nine monthly. You also find you are only using the other bankĂ˘â‚¬â„˘s ATM about once a week.

c. You maintain a minimum balance of \$500, write three checks a week, and use another bankĂ˘â‚¬â„˘s ATM only about once a month.

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