Jill has not been able to maintain the $1,000 minimum balance required to avoid fees on her checking account. She wants to switc
h to a different account with a fee of $0.20 per check and a $12.50 monthly maintenance fee. Jill wants to estimate the fees for her new account. Below is a summary of the checks she has written from May to August. What is the mean number of checks Jill wrote per month during the last four months? Based on the mean, estimate how much Jill expects to pay in per-check fees each month after she switches to the new account. Estimate the total monthly fees Jill will pay each month for the new checking account.
1 answer:
Step-by-step explanation:
Kindly find attached a summary of the checks she has written from May to August.
A. What is the mean number of checks Jill wrote per month during the last four months
mean= (14+19+23+24)/4
mean= 80/4
mean= 20 checks
B. Based on the mean, estimate how much Jill expects to pay in per-check fees each month after she switches to the new account.
the expression for the total is given as
y=12.50+0.2x
y=12.50+0.2(20)
y=12.50+4
y=16.5
=$16.5
C. Estimate the total monthly fees Jill will pay each month for the new checking account.
May= 12.50+0.2(14)
May=12.5+2.8= 15.3
June= 12.50+0.2(19)
June=12.5+3.8= 16.3
July= 12.50+0.2(23)
July=12.5+4.6= 17.1
August= 12.50+0.2(24)
August=12.5+4.8= 17.3
total will be = 15.3+16.3+17.1+17.3= $66
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