Question

four banks
details about four different banks are shown.
metro city bank
minimum balance: $500
monthly maintenance fee: $15, waived if minimum balance remains over $500 for the entire month
atm fee: $0 for in - network, $3 for out - network
overdraft fee: $35 for each occurrence
wire transfer fee: $15 for domestic transfers, $25 for international transfers
citywide bank
minimum balance: $500
monthly maintenance fee: $10
atm fee: $0 for in - network, $2 for out - network
overdraft fee: $35 for each occurrence
wire transfer fee: $10 for domestic transfers, $20 for international
a customer at metro city bank maintains a daily balance of $650 and uses an out - network atm twice.
what will be their total fees for the month?

Explanation:

Step1: Determine monthly maintenance fee

Since the customer maintains a balance of $650 which is over $500, the monthly maintenance fee of $15 is waived. So, monthly maintenance fee = $0.

Step2: Calculate ATM fees

The customer uses an out - of - network ATM twice. The ATM fee for out - of - network is $3 per transaction. So, ATM fees = $3×2 = $6.

Answer:

$6