Question

Internet access to use online banking costs you $39.99 per month. A book of checks costs you $17.95 per 100. Your bank charges you a $.05 per check writing fee for over 5 checks per month. You write an average of 25 checks per month and each one needs a 50 cent stamp. What is your cost difference per month to use online banking vs check writing?

Answer 1

Answer:

$21.9275

Explanation:

The cost of online banking is $39.99

The cost of checks books is $17.95 per 100. The cost associated with 25 checks

= $17.25/100 x 25

=0.1725 x 25

=$4.3125

The cost of a stamp is 50 cents, which is $0.50

for 25 checks

=$0.50 x 25

=$12.5

The writing fee

=$0.05 x 25

=$1.25

Total cost of using checks

= $4.3125 + $12.5 +$1.25

=$18.0625

the difference between online banking and checks

= $39.99 - $18.0625

=$21.9275