Question

community trust bank
monthly maintenance fee: $5 (waived with a minimum daily balance of $500 or with a student id)
atm fee: $1.50 for out - of - network atms; no fee for in - network atms
overdraft fee: $25 per occurrence
minimum balance fee: $0
wire transfer fee: $15 for domestic, $25 for international
savings account interest rate: 0.3% annual percentage yield (apy)
special feature: offers financial education workshops for account holders
a community trust bank customer, who is a student, maintains a balance of $400, uses an out - of - network atm three times, and makes one international wire transfer.
what are their total fees for the month?

Explanation:

Step1: Calculate ATM fees

Since the customer is a student, the out - of - network ATM fee is waived. So the ATM fee is $0$.

Step2: Calculate wire transfer fees

The customer makes one international wire transfer, and the international wire transfer fee is $25$.

Step3: Calculate total fees

The total fees is just the wire transfer fee as other potential fees (like monthly maintenance fee is waived with minimum balance and no overdraft occurred). So the total fees $T = 25$.

Answer:

$25$