To determine which checking account would be best for James, let's analyze the total annual costs associated with each account.
### Monthly and Annual Fees for Each Account
1. Account A:
- Monthly Fee: [tex]$0
- Annual Fee: $[/tex]0
2. Account B:
- Monthly Fee: [tex]$0
- Annual Fee: $[/tex]36
3. Account C:
- Monthly Fee: [tex]$10
- Annual Fee: $[/tex]0
4. Account D:
- Monthly Fee: [tex]$12
- Annual Fee: $[/tex]0
### Calculate the Total Annual Cost for Each Account
1. Total cost for Account A:
- Monthly fee: [tex]$0 * 12 = $[/tex]0
- Annual fee: [tex]$0
- Total: $[/tex]0 + [tex]$0 = $[/tex]0
2. Total cost for Account B:
- Monthly fee: [tex]$0 * 12 = $[/tex]0
- Annual fee: [tex]$36
- Total: $[/tex]0 + [tex]$36 = $[/tex]36
3. Total cost for Account C:
- Monthly fee: [tex]$10 * 12 = $[/tex]120
- Annual fee: [tex]$0
- Total: $[/tex]120 + [tex]$0 = $[/tex]120
4. Total cost for Account D:
- Monthly fee: [tex]$12 * 12 = $[/tex]144
- Annual fee: [tex]$0
- Total: $[/tex]144 + [tex]$0 = $[/tex]144
### Selecting the Best Account
After calculating the total annual fees, we can compare them:
- Account A: [tex]$0
- Account B: $[/tex]36
- Account C: [tex]$120
- Account D: $[/tex]144
The account with the lowest total annual cost is Account A with $0.
Therefore, the best checking account for James, considering he wants the account with the lowest fees, is Account A.
