11:24 Search Chapter 4.SII Problem 4RE Done You are looking for a bank in which to open a checking account for your new part-time business. You estimate that in the first year, you will be writing 30 checks per month and will make three debit transactions per month. Your average daily balance is estimated to be $900 for the six months and $2,400 for the next six months. Use the following information to solve the problem. Bank Intercontinental Bank City National Bank Bank of America First Union Bank Taking a Toll Monthly Fees and Condition $15.00 with $1,000 min daily belance $25.00 under $1,000 min daily balance $4.50 plus $0.50 per check over 10 checks monthly $1.00 per debit transaction 56 plus $0.25 per check $2.00 per debit transaction $9 plus $0.15 per check $1.50 per debit transaction 175 150 125 100 75 50 25 2008 2009 2010 Source FOC In the two-year period from 2008 to 2010, US bank fatures increased dra matically as part of the global finan a. Calculate the cost of doing business with each bank for a year. Intercontinental Bank: City National Bank: Bank of America: First Union Bank: b. Which bank should you choose for your checking account?