3
QuizMultiple Choice

Cumulative Exam — Cumulative exam

Question 3 • TX-Mathematical Models with Applications A

Henry is moving and needs to open a new checking account. He is trying to decide between three banks using the chart below:Bank XBank YBank ZNo monthly fees if balance stays above $500, otherwise $7 per monthNo monthly fees if check card is used less than 6 times per month$5 monthly feeNo minimum balance$25 minimum balanceNo minimum balanceOnline banking servicesOnline banking servicesOnline banking servicesNon-Bank X ATM fee - $2.00 per transactionNon-Bank Y ATM fee - $1.50 per transactionNon-Bank Z ATM fee - $2.00 per transactionHenry usually has about $300 in his account at any given time during the month. He limits his ATM visits to one per week and is interested in banking online options. Bank X and Bank Z have 5 ATMs within a 5 mile radius of Henry’s work and his new home. Which bank should he choose?a.Bank Xb.Bank Yc.Bank Zd.Bank X and Z

Answer
A
A
B
B
C
C
D
D
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