Jennifer is trying to decide between two checking account options. Checking account A has a monthly fee of $15 and charges $0.25 per check, while checking account B has a monthly fee of $20 and no per-check fee. She would like to know how many checks she needs to write each month for the two accounts to cost the same. (5 points total: Part I – 1 point; Part II – 1 point; Part III – 1 point; Part IV – 1 point; Part V – 1 point) Part I: What is the difference in monthly fees between the two accounts?
Part II: Using your answer from Part I and the $0.25 cost per check, find out how many checks written equals the difference in monthly fees.
Part III: How many checks does Jennifer need to write each month for the two checking accounts to cost the same?
Part IV: What is the maximum number of checks that Jennifer can write each month for checking account A to be a better deal?
Part V: If Jennifer wrote 25 checks last month, what would be her total fees with checking account A?