11.1 Assignment

The table shows the monthly fees for the checking account for two banks. Which statement is best supported by the information in the table?

• The fee at Bank A will always be less than the fee at Bank B.

• The fee at Bank A will always be more than the fee at Bank B.

• The fee at Bank A will be more than the fee at Bank B only when a customer’s balance is less than $1,000.

• The fee at Bank A will be more than the fee at Bank B only when a customer’s balance is more than $1,000.

Which statement does NOT describe purchases made with a credit card?

• Interest may be charged on purchases made with this card if the balance is paid in full.

• Money for purchases made with this card is drawn directly from a bank account.

• Purchases made with this card do not have to be paid for immediately.

• Purchases made with this card are subject to a credit limit.

Troy is comparing the cost of two checking accounts offered at two banks. Bank R: A monthly fee of $25, Bank S: A monthly fee of 2% of checking account balance. How much more will the fees at Bank S be than the fees at Bank R for a checking account with a balance of $18,000 over a year, in dollars?

• $60

• $18

• $24

• $30

The fees for debit cards at two banks are shown in the table. Which statement is true for 9 transactions per month?

• The fees will be $1.75 less for Bank A card than Bank B card.

• The fees will be $2.25 less for Bank A card than Bank B card.

• The fees will be $1.75 less for Bank B card than Bank A card.

• The fees will be $2.25 less for Bank B card than Bank A card.

Alton is deciding which debit card to get. Card W has a fee of $1.25 per transaction and Card X has a flat monthly fee of $7.50. Which statement is best supported by the information given in each debit card?

• The fee for Card W will always be less than the fee for Card X.

• The fee for Card W will always be more than the fee for Card X.

• The fee for Card W will be more than the fee for Card X only when Alton has more than 6 transactions per month.

• The fee for Card W will be more than the fee for Card X when Alton has fewer than 6 transactions per month.

Louise made the following statement: "Credit cards and debit cards have the exact same benefits." Which statement correctly describes Louise's statement about credit cards and debit cards?

• Her statement is true because debit cards and credit cards pay interest to the user.

• Her statement is true because debit cards and credit cards charge the user interest on the amount of the purchase.

• Her statement is not true because a credit card can be used as cash and a debit card can be used as a short-term loan.

• Her statement is not true because a debit card can be used as cash and a credit card can be used to finance a purchase.