This mathematics problem involves applying core mathematical principles and formulas. Below you will find a complete step-by-step solution with detailed explanations for each step, helping you understand not just the answer but the method behind it.
ScanSolve AI Answer
Here are the answers to your questions: 1.7. Apart from deposits and withdrawals, which transaction has a higher pay-as-you-use fee than an EasyPAY fee? Based on the provided table, there is no transaction (apart from deposits and withdrawals) where the Pay-as-you-use account has a higher fee than the EasyPAY account. All other listed transaction fees are identical for both accounts. 1.8. Thabiso made a withdrawal of R2 890 from his own bank's ATM. Calculate the difference in charges if he used Bank A (pay-as-you-use) account and advise him which transaction account would be more convenient or cost-effective for him if he made the same withdrawal from EasyPAY. Step 1: Calculate the charge for a R2 890 withdrawal from his own ATM using the Pay-as-you-use account. The fee is R8 per R1 000 (or part thereof). For R2 890, this is considered 3 units of R1 000 (R1-R1000, R1001-R2000, R2001-R2890). Pay-as-you-use charge = 3 × R8 = R24 Step 2: Calculate the charge for a R2 890 withdrawal from his own ATM using the EasyPAY account. The fee is R10 + R2,30 per R100 (or part thereof). For R2 890, this is considered 29 units of R100 ( (2890)/(100) = 29). EasyPAY charge = R10 + (29 × R2,30) = R10 + R66,70 = R76,70 Step 3: Calculate the difference in charges. Difference = EasyPAY charge - Pay-as-you-use charge = R76,70 - R24 = R52,70 Step 4: Advise which account is more cost-effective. The Pay-as-you-use account is more cost-effective for this specific withdrawal. The difference in charges is R52,70. The Pay-as-you-use account would be more cost-effective for this withdrawal. 1.9. Give one reason that can make Thabiso to remain using the account he currently uses as expensive as it is. Thabiso might remain with his current Pay-as-you-use account because he primarily uses free transactions like point-of-sale (POS) purchases, making the overall monthly cost of his banking manageable despite higher fees for certain withdrawals. 1.10. State whether ATM is an acronym or abbreviation. ATM is an abbreviation (specifically, an initialism). 1.11. Write down the ATM in full ATM stands for Automated Teller Machine. That's 2 down. 3 left today — send the next one.