First Bank charges $4.50 per month for a basic checking account plus $0.15 for each check written. Citizen's Bank charges a flat fee of $9. How many checks would you have to write each month in order for the cost to be the same at both banks?
Let n be the number of checks written. Then, in order to be equal:
4.5+0.15n=9
will tell you the number of checks before costs are equal.
To find the number of checks you would have to write each month for the cost to be the same at both banks, we need to set up an equation and solve for the unknown value.
Let's denote the number of checks written per month as "x".
For First Bank, the monthly cost can be calculated as the sum of the fixed fee and the fee per check:
Cost at First Bank = $4.50 + ($0.15 * number of checks written)
For Citizen's Bank, the monthly cost is a flat fee:
Cost at Citizen's Bank = $9.00
To find the number of checks that makes these costs equal, we set up the equation:
$4.50 + ($0.15 * x) = $9.00
Now, let's solve for "x":
$0.15 * x = $9.00 - $4.50
$0.15 * x = $4.50
x = $4.50 / $0.15
x = 30
Therefore, you would have to write 30 checks each month for the cost to be the same at both banks.