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Homework answers / question archive / Average Maintenance Per-Check Balance Charge Per Month Charge Less than $500 $12
Average Maintenance Per-Check Balance Charge Per Month Charge Less than $500 $12.00 $.20 $500 - $1999 $ 7.50 $.20 $2000 - $4999 $ 5.00 $.10 $5000 or more 0 0 Use the table to find the monthly checking-account service charge for the following account.
Romero's Taco Hut, 16 checks, average balance $93
$14.30 $16.45 $13.70 $15.20
Computation of Monthly Checking Account Service Charge:
As you can notice in the table, the charges of checks and maintenance are mentioned for different average account balances.
In our case, the account balance is $93, which is less than 500.
So, the first row of the table rate applies.
Monthly Checking Account Service Charge = Maintenance Charge per Month + (Number of Checks * Per-Check Charge)
= $12 + (16*0.20)
= $12 + $3.20
Monthly Checking Account Service Charge = $15.20
