You want to open a checking account with a $500 deposit. You estimate you will write 10 checks a month and use an ATM from other banks about twice a week. Bank A charges $1 per check if you drop under a minimum balance of $100, but you can use another bank’s ATM without a fee. Bank B has free checking but charges $1 each time you use another bank’s ATM.Calculate the difference in fees between the two banks over the course of one year for the following scenarios:

1. Your balance slips below $100 every other month.

2. Your balance slips below $100 every other month, but you are now able to pay a bill online each month, dropping the number of checks you have to write to nine monthly. You also find you are only using the other bank’s ATM about once a week.

3. You maintain a minimum balance of $500, write three checks a week, and use another bank’s ATM only about once a month.