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15 November, 14:06

Wayne's Bank charges a $1 service charge for every transaction. To save money, he withdraws $100 cash every other week instead of withdrawing $50 each week.

Is he right?

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Answers (1)
  1. 15 November, 15:02
    0
    Yes he is.

    Explanation:

    The bank charges $1 for every transaction (irrespective of the amount involved).

    Where he withdraws $100 cash every other week instead of withdrawing $50 each week he would have saved $1 every other week.

    If he wants to withdraw $100, and he withdraw $50 twice. This will result in the charge of $2. However, if he withdraws it once, the service charge he will incur is $1. Hence a saving of $1 ($2 - $1).

    As such, Wayne's right.
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