Jon Williams has never had a bank account before, But now he is married and has a new job. He and his wife, Sherry, want to start keeping their money in a bank. When he went to the bakn he was surprised. He told Sherry, "When you open a checking account, it'slike shopping. You choose the services you need. The man at the bank asked us to read this chart and choose the plan that is right for us." Types of Checking Accounts Plans Benefits Fees Special Checking ($25 to open) open with only $25 5 free checks per month $3.00 monthly service charge $0.50 for each check over 5 Personal Checking ($100 to open) unlimited free checks No fee to use bank’s automated teller machine (ATM) $8.00 monthly service charge No fee when you keep a $750 daily balance or $1,500 in savings EARN Checking ($200 to open) unlimited free checks No fee to use bank’s ATM Pays 2% interest $8.00 monthly service charge No fee when you keep a 1,500 daily balance or $2,000 in savings Jon and Sherry estimated the number of checks they would write each month. Between home expenses and personal spending, they realized they might write as many as 25 checks in a month. They decided the Speical Checking account would cost too much. It had a check charge and a service charge. The EARN checking account would require them to keep too much money in the bank. They chose the Personal Checking account becasue teh $8.00 service charge would be cheaper than paying $0.50 per check.