otherwise $7 per month, otherwise $10 monthly fee\nno minimum balance, $25 minimum balance, no minimum…

otherwise $7 per month, otherwise $10 monthly fee\nno minimum balance, $25 minimum balance, no minimum balance\nonline banking services, online banking services, no online banking options\nnon - bank r atm fee - $2.00 per transaction, non - bank s atm fee - $1.50 per transaction, non - bank t atm fee - $2.00 per transaction\nemma usually has about $1000 in her account at any given time during the month. she usually visits the atm twice a week and is interested in banking online options. bank r has 10 atms within a 5 mile radius of emmas home. bank s has 1 atm 10 miles from emmas work. which bank should she choose?\na. bank r\nb. bank s\nc. bank t\nd. bank r and s

otherwise $7 per month, otherwise $10 monthly fee\nno minimum balance, $25 minimum balance, no minimum balance\nonline banking services, online banking services, no online banking options\nnon - bank r atm fee - $2.00 per transaction, non - bank s atm fee - $1.50 per transaction, non - bank t atm fee - $2.00 per transaction\nemma usually has about $1000 in her account at any given time during the month. she usually visits the atm twice a week and is interested in banking online options. bank r has 10 atms within a 5 mile radius of emmas home. bank s has 1 atm 10 miles from emmas work. which bank should she choose?\na. bank r\nb. bank s\nc. bank t\nd. bank r and s

Answer

Explanation:

Step1: Analyze Emma's needs

Emma wants online - banking and has a balance above minimums.

Step2: Calculate monthly ATM fees for Bank R

Emma visits ATM 2 times a week, so 2×4 = 8 times a month. Bank R has a $2 per - transaction non - Bank R ATM fee. So the monthly ATM fee is 8×2=$16. Monthly fee is $7. Total monthly cost is 16 + 7=$23.

Step3: Calculate monthly ATM fees for Bank S

Bank S has a $1.50 per - transaction non - Bank S ATM fee. Monthly ATM fee is 8×1.5 = $12. Monthly fee is $10 if no minimum balance is maintained. Total monthly cost is 12+10 = $22.

Step4: Analyze Bank T

Bank T has no online banking which Emma wants, so we can rule it out.

Step5: Compare Bank R and S

Bank S has a lower total monthly cost and meets Emma's online - banking requirement.

Answer:

b. Bank S