Sure, I can help you understand the solution step-by-step.
1. Identify current and new charges:
- Current monthly service fee: \[tex]$9.75
- Per-check fee for the current account: \$[/tex]0.12 per check
- Number of checks Amir writes per month: 15
- New account monthly service fee: \[tex]$11.50
2. Calculate the total fee for the current account:
The total charge for the current account includes the monthly service fee plus the per-check fee times the number of checks:
\[
\text{Total Fee for Current Account} = \text{monthly service fee} + (\text{per-check fee} \times \text{number of checks})
\]
Let's substitute the given values:
\[
\text{Total Fee for Current Account} = 9.75 + (0.12 \times 15)
\]
3. Perform the multiplication:
Calculate the per-check part:
\[
0.12 \times 15 = 1.80
\]
4. Add the monthly service fee to the per-check total:
\[
\text{Total Fee for Current Account} = 9.75 + 1.80 = 11.55
\]
So, Amir's current total monthly fee is \$[/tex]11.55.
5. Compare the total fees:
- Fee for the new account: \[tex]$11.50
- Fee for the current account: \$[/tex]11.55
Since Amir's current total fee (\[tex]$11.55) is slightly higher than the new account fee (\$[/tex]11.50), Amir's assessment to not switch is actually incorrect.
In conclusion, Amir should consider switching to the new account because his current total fees are slightly higher than the new account's monthly fee. Thus, the correct calculation shows that Amir's monthly cost for the current account is \[tex]$11.55, and it is less advantageous than the \$[/tex]11.50 fee for the new account. Therefore, I disagree with Amir; he miscalculated his current fees.
