Question

note: please make sure to properly format your answers. all dollar figures in the answers need to include the dollar sign and any amount over 1,000 should include the comma ($1,234.56). all percentage values in the answers need to include a percentage sign (%). for all items without specific rounding instructions, round your answers to two decimal places, show both decimal places (5.06)
jill has not been able to maintain the $1,000 minimum balance required to avoid fees on her checking account. she wants to switch 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.

month	number of checks on statement
june	19
july	23
august	24

a. what is the mean number of checks jill wrote per month during the last four months?
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.
c. estimate the total monthly fees jill will pay each month for the new checking account.

Explanation:

Step1: Calculate the sum of checks

$14 + 19+23 + 24=80$

Step2: Calculate the mean number of checks per month

The number of months is 4. Mean = $\frac{80}{4}=20$

Step3: Calculate per - check fees

The per - check fee is $0.20. So the per - check fees per month based on the mean is $0.20\times20 = 4$

Step4: Calculate total monthly fees

The monthly maintenance fee is $12.50. Total monthly fees = per - check fees+monthly maintenance fee = $4 + 12.50=16.50$

Answer:

a. 20
b. $4.00
c. $16.50