Answered

Welcome to Westonci.ca, the Q&A platform where your questions are met with detailed answers from experienced experts. Our Q&A platform provides quick and trustworthy answers to your questions from experienced professionals in different areas of expertise. Get immediate and reliable solutions to your questions from a community of experienced professionals on our platform.

Suppose a bank charges a base rate of $5 plus $0.10 per check for your checking account. You can switch to a different account that charges $4 plus $0.20 per check. For what number of checks is the monthly cost of the two accounts the same? What is the cost?

Sagot :

isyllus

Answer:

10 number of checks.

Cost = $6

Step-by-step explanation:

Given that:

Fixed Charges of first bank = $5

Charges of first bank per check = $0.10

Fixed Charges of second bank = $4

Charges of second bank per check = $0.20

To find:

Number of checks such that the charges for the banks become the same?

Solution:

Let the number of checks = [tex]x[/tex]

Cost for the first bank for [tex]x[/tex] checks = $5 + $0.10[tex]x[/tex]

Cost for the second bank for [tex]x[/tex] checks = $4 + $0.20[tex]x[/tex]

As per question statement, both the costs are the same.

Comparing the values:

[tex]5 + 0.10x = 4 + 0.20x\\\Rightarrow 0.10x = 1\\\Rightarrow x = 10[/tex]

So, for 10 number of checks the cost will be same.

The cost = 4 + 0.20 [tex]\times[/tex] 10 = $6

Thanks for stopping by. We are committed to providing the best answers for all your questions. See you again soon. Thanks for using our platform. We aim to provide accurate and up-to-date answers to all your queries. Come back soon. We're dedicated to helping you find the answers you need at Westonci.ca. Don't hesitate to return for more.