Question

checking account A charges a monthly service fee of $23 and a wire transfer fee of $7.50, while checking account B charges a monthly service fee of $14 and a wire transfer fee of $9.50. Which checking account is the better deal if four wire transfer are made per month?

Answer 1

Checking account B by one dollar

Answer 2

Answer:

The checking account that is the better deal if four wire transfer are made per month is account B.

Explanation:

If four wire transfer are made per month:

Account A:                                          

service fee= $23

Wire transfer fee= $7.50*4= $30

Cost per month= $53

Account B:                                          

service fee= $14

Wire transfer fee= $9.50*4= $38

Cost per month= $52

Account A cost $53 and account B cost $52.