Comparing Checking Accounts

Which type of checking account requires a certain amount of money to be kept in it at all times in order to avoid fees?

• Minimum balance account
• Free Account
• Cost per Check Account
• Average Balance Account

Which type of checking account charges a small fee for every check that clears the account?

• Minimum balance account
• Free Account
• Cost per Check Account
• Average Balance Account

Ramon's checking account requires that he maintain a minimum balance of $2000 to avoid a monthly service fee, and his balance at the beginning of this month was $2183.62. If Ramon's transactions so far this month have been a direct deposit of $562.56 on the 3rd of the month, a check written by Ramon on the 6th of the month to his landlord for $750 that cleared the next day, and a cash deposit of $100 on the 9th of the month, has Ramon been able to avoid the monthly service fee?

• No, because his lowest balance so far this month has been $1996.18.
• No, because his highest balance so far this month has been $2746.18.
• Yes, because his lowest balance so far this month has been $1996.18.
• Yes, because his highest balance so far this month has been $2746.18.

Tags

CCSS.7.NS.A.1C

Dana's checking account requires that she maintain a minimum balance of $1000 to avoid a monthly service fee, and her balance at the beginning of this month was $1096.03. If Dana's transactions so far this month have been a direct deposit of $613.72 on the 2nd of the month, a check written by Dana on the 5th of the month to her landlord for $700 that cleared the next day, and a cash deposit of $200 on the 8th of the month, has Dana been able to avoid the monthly service fee?

• No, because her lowest balance so far this month has been $1009.75.
• No, because her highest balance so far this month has been $1709.75.
• Yes, because her lowest balance so far this month has been $1009.75.
• Yes, because her highest balance so far this month has been $1709.75.

Tags

CCSS.7.NS.A.3

Kyle's checking account requires that he maintain a minimum balance of $3000 to avoid a monthly service fee, and his balance at the beginning of this month was $3202.93. If Kyle's transactions so far this month have been a direct deposit of $436.37 on the 4th of the month, a check written by Kyle on the 7th of the month to his landlord for $650 that cleared the next day, and a cash deposit of $300 on the 10th of the month, has Kyle been able to avoid the monthly service fee?

• No, because his lowest balance so far this month has been $2989.30.
• No, because his highest balance so far this month has been $3639.30.
• Yes, because his lowest balance so far this month has been $2989.30.
• Yes, because his highest balance so far this month has been $3639.30.

Tags

CCSS.7.NS.A.3

Roy's checking account pays 1% interest monthly and has a $10 service fee. If Roy's balance last month was $2223, find the amount of credit or debit to his account after interest and service fee are both applied.

• Credit of $12.23
• Credit of $14.43
• Credit of $22.23
• Credit of $13.43

Tags

CCSS.7.RP.A.3

Big Bucks Bank charges a monthly service fee and a per-check fee, and its total monthly fees as they relate to the number of checks written per month is shown by the graph.

Which of these is the fee structure of Big Bucks Bank?

• A monthly service fee of $0.50 and a per-check fee of $0.50
• A monthly service fee of $0.50 and a per-check fee of $1.00
• A monthly service fee of $1.00 and a per-check fee of $0.50
• A monthly service fee of $1.00 and a per-check fee of $1.00

Tags

CCSS.HSF.LE.B.5

Lots a Loot Bank charges a monthly service fee and a per-check fee, and its total monthly fees as they relate to the number of checks written per month is shown by the graph below.
Which of these is the fee structure of Lots a Loot Bank?

• A monthly service fee of $0.50 and a per-check fee of $0.50
• A monthly service fee of $0.50 and a per-check fee of $1.00
• A monthly service fee of $1.00 and a per-check fee of $0.50
• A monthly service fee of $1.00 and a per-check fee of $1.00

Tags

CCSS.HSF.LE.B.5

Ezra is comparing two checking accounts, one has a monthly fee of $8 and a per-check fee of $0.20, and the other has a monthly fee of $6 and a per-check fee of $0.25.
What is the minimum number of checks Ezra needs to write for the first bank to be a better option?

• 40
• 50
• 39
• 41

Dewayne is comparing two checking accounts, one has a monthly fee of $7 and a per-check fee of $0.30, and the other has a monthly fee of $4 and a per-check fee of $0.40.
What is the minimum number of checks Dewayne needs to write for the first bank to be a better option?

• 28
• 29
• 30
• 31