Answer:
[tex]\begin{array}{|c|c|c|c|}\cline{1-4}\vphantom{\dfrac12}\sf Bank & \sf Basic\;Fee\times 12 & \sf Bill\;Paying\;Fee\times 12 & \sf Checks\;Written-Limit\\\cline{1-4}\vphantom{\dfrac12}\sf A&\$18&\$27&20\\\cline{1-4}\vphantom{\dfrac12}\sf B&\$30&\$27&10\\\cline{1-4}\vphantom{\dfrac12}\sf C&\$18&\$21&10\\\cline{1-4}\vphantom{\dfrac12}\sf D&\$30&\$21&20\\\cline{1-4}\end{array}[/tex]
[tex]\begin{array}{|c|c|c|}\cline{1-3}\vphantom{\dfrac12}\sf Bank & \sf Column\;4\times Cost\;per\;bill\times 12 & \sf Annual\;Total\\\cline{1-3}\vphantom{\dfrac12}\sf A&\$24&\$69\\\cline{1-3}\vphantom{\dfrac12}\sf B&\$18&\$75\\\cline{1-3}\vphantom{\dfrac12}\sf C&\$24&\$63\\\cline{1-3}\vphantom{\dfrac12}\sf D&\$48&\$99\\\cline{1-3}\end{array}[/tex]
Step-by-step explanation:
Jane wants to compare the cost of online banking across 4 different banks. We are told that she writes an average of 40 checks each month.
Given monthly charges for four different banks:
[tex]\begin{array}{|c|c|c|c|c|}\cline{1-5}\vphantom{\dfrac12}\sf Bank & \sf Basic\;Monthly\;Fee& \sf Bill\;Paying\;Monthly\;Fee & \sf Limit& \sf Cost\;per\;bill\;beyond\;limit\\\cline{1-5}\vphantom{\dfrac12}\sf A&\$1.50&\$2.25&20&\$0.10\\\cline{1-5}\vphantom{\dfrac12}\sf B&\$2.50&\$2.25&30&\$0.15\\\cline{1-5}\vphantom{\dfrac12}\sf C&\$1.50&\$1.75&30&\$0.20\\\cline{1-5}\vphantom{\dfrac12}\sf D&\$2.50&\$1.75&20&\$0.20\\\cline{1-5}\end{array}[/tex]
The "limit" is the number of checks Jane is not charged a fee to write per month. For each check Jane writes above this monthly limit, she will be charged a fee (fifth column).
To complete the first table:
- The second column is the charge per year for the basic fee. So we have to multiply the given "basic monthly fee" by 12 to calculate the basic fee per year (since there are 12 months in a year).
- The third column is the charge per year for the bill paying fee. Again, multiply the given "bill paying monthly fee" by 12 to calculate the bill paying fee per year (since there are 12 months in a year).
- The fourth column is the number of checks Jane writes per month more than the given limit. So as Jane writes an average of 40 checks per month, we have to subtract the given limit from 40.
[tex]\begin{array}{|c|c|c|c|}\cline{1-4}\vphantom{\dfrac12}\sf Bank&\sf Basic\;Fee\times12&\sf Bill\;Paying\;Fee\times12&\sf Checks\;Written-Limit\\\cline{1-4}\vphantom{\dfrac12}\sf A&\$1.50\times12=\$18&\$2.25\times12=\$27&40-20=20\\\cline{1-4}\vphantom{\dfrac12}\sf B&\$2.50\times12=\$30&\$2.25\times12=\$27&40-30=10\\\cline{1-4}\vphantom{\dfrac12}\sf C&\$1.50\times12=\$18&\$1.75\times12=\$21&40-30=10\\\cline{1-4}\vphantom{\dfrac12}\sf D&\$2.50\times12=\$30&\$1.75\times12=\$21&40-20=20\\\cline{1-4}\end{array}[/tex]
To complete the second table:
- The second column is the charge per year for the number of checks Jane writes over each bank's "free" limit. So multiply the number from the fourth column of the first table (Checks Written - Limit) by the "Cost per bill beyond limit" from the given table of information and then multiply by 12.
- The third column is the annual total charged by each bank. Sum "Basic Fee x 12" and "Bill Paying Fee x 12" and "Column 4 x Cost Per Bill x 12" for each bank.
[tex]\begin{array}{|c|c|c|}\cline{1-3}\vphantom{\dfrac12}\sf Bank & \sf Column\;4\times Cost\;per\;bill\times 12 & \sf Annual\;Total\\\cline{1-3}\vphantom{\dfrac12}\sf A&20\times\$0.10\times12=\$24&\$18+\$27+\$24=\$69\\\cline{1-3}\vphantom{\dfrac12}\sf B&10\times\$0.15\times12=\$18&\$30+\$27+\$18=\$75\\\cline{1-3}\vphantom{\dfrac12}\sf C&10\times\$0.20\times12=\$24&\$18+\$21+\$24=\$63\\\cline{1-3}\vphantom{\dfrac12}\sf D&20\times\$0.20\times12=\$48&\$30+\$21+\$48=\$99\\\cline{1-3}\end{array}[/tex]
