The table shows the monthly fees for the checking
accounts at two banks.
Which statement is best supported by the informa-
tion in the table?
A The fee at Bank Fargo will always be more than
the fee at Bank Citizens.
B The fee at Bank Fargo will always be less than
the fee at Bank Citizens.
C The fee at Bank Fargo will be more than the
fee at Bank Citizens only when the checking
account balance is less than $200.
D The fee at Bank Fargo will be more than the
fee at Bank Citizens only when a customer’s
balance is more than $200.
The two banks are fargo and citizens bank and monthly for fargo is 3% of checking account balance and for citizens montly is $6
B) The statement "The fee at Bank Fargo will always be less than the fee at Bank Citizens" is best supported by the information in the table.
Based on the information provided in the table, the correct answer is C. The fee at Bank Fargo will be more than the fee at Bank Citizens only when the checking account balance is less than $200.
To determine the correct statement supported by the information in the table, let's analyze the given information:
- Fargo Bank charges a monthly fee equal to 3% of the checking account balance.
- Citizens Bank charges a flat monthly fee of $6.
Now let's evaluate each statement based on this information:
A) The fee at Bank Fargo will always be more than the fee at Bank Citizens.
This statement cannot be supported because the fee at Bank Fargo depends on the checking account balance, and thus, it may be more or less than the fee at Bank Citizens.
B) The fee at Bank Fargo will always be less than the fee at Bank Citizens.
This statement cannot be supported either since the fee at Bank Fargo is based on a percentage of the checking account balance, and thus, it may be more or less than the flat fee at Bank Citizens.
C) The fee at Bank Fargo will be more than the fee at Bank Citizens only when the checking account balance is less than $200.
This statement is incorrect because it doesn't take into account the calculation of the fees based on the checking account balance. We cannot accurately conclude from the table when the fee at Bank Fargo will be more or less than the fee at Bank Citizens.
D) The fee at Bank Fargo will be more than the fee at Bank Citizens only when a customer's balance is more than $200.
Based on the information provided, this statement is the most accurate. Since the fee at Bank Fargo is a percentage of the checking account balance, it will be more than the flat fee at Bank Citizens when the customer's balance exceeds $200.
Therefore, the correct statement supported by the information in the table is D) The fee at Bank Fargo will be more than the fee at Bank Citizens only when a customer's balance is more than $200.