Contemporary Mathematics for Business & Consumers 8th Edition by Robert Brechner,Geroge Bergeman

Exercise 16

You are looking for a bank in which to open a checking account for your new part-time business. You estimate that in the first year, you will be writing 30 checks per month and will make three debit transactions per month. Your average daily balance is estimated to be $900 for the six months and $2,400 for the next six months.
Use the following information to solve the problem.


a. Calculate the cost of doing business with each bank for a year.
Intercontinental Bank:
City National Bank:
Bank of America:
First Union Bank:
b. Which bank should you choose for your checking account