Your employer offers you two options to have your paycheck deposited directly to

Question

Your employer offers you two options to have your paycheck deposited directly to a debit card. The options are with two different companies, but both come with fees attached. A fixed fee of $6.00 per month plus a swipe fee(a charge every time you use the your card) of $0.25 per swipe. A fixed fee of $12 per month plus a swipe fee of $0.10 per swipe. a) Write an equation for the fees attached to Option 1 that relate the total fees, F, to the number of swipes, n. b) Write an equation for the fees attached to Option 2 that relate the total fees, F, to the number of swipes, n. c) Complete the following table. d) If you use your card an average of 30 times per month, which option would you choose? Explain. e) For what number of swipes would the fees on both options be equal?

Explanation / Answer

Option 1 : fixed fee = $6.00, per swipe fee = $ 0.25

Let n nos. of swipes.

F = 6 + 0.25n

Option 1:

fixed fee = $12.00, per swipe fee = $ 0.1

Let n nos. of swipes.

F = 12 + 0.1n

No. of swipes ----- Option 1 ($) ----- Option 2($)

0 ---------------- 6 ------------------ 12

10 --------- 8.5 ------- 13

20 ----- 11 -------------14

30 ------ 13.5 ----- 15

d) n = 30 ; Option 1 fees F = $13.5; Option2 fees F = $15

we would use Option1 as it is cheaper

e) 6 + 0.25n = 12 + 0.1n

0.15n = 6

n = 40 swipes , both options have same fees

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