Question

global exchange bank monthly maintenance fee: $15 waived with a minimum daily balance of $2,000 with monthly direct deposits of $1,000 atm fee: $0 for in - network and international atms; $3 out - of - network domestic atms overdraft fee: $25 per occurrence minimum balance fee: $10 if the balance falls below $500 wire transfer fee: free for domestic, $20 for international savings account interest rate: 0.4% annual percentage yield (apy) special feature: offers multi - currency accounts and favorable exchange a global exchange bank customer has a balance of $3,000, uses an in - network atm twice, and makes one overdraft. they also receive a direct deposit of $2,500. what are their total fees? $56 $41 $60 $35

Explanation:

Step1: Analyze ATM fees

The customer uses in - network ATMs twice. In - network ATM fee is $0, so no cost from in - network ATMs.

Step2: Analyze wire transfer fee

There is no information about wire transfer in the usage, so wire transfer fee is $0.

Step3: Analyze minimum balance fee

The customer has a balance of $3,000. The minimum daily balance requirement for waiving the monthly maintenance fee is $1,000, so no minimum balance fee.

Step4: Analyze overdraft fee

The customer has an overdraft, and the overdraft fee is $25 per occurrence, so overdraft fee = $25.

Step5: Calculate total fees

Since other fees are $0, the total fee is just the overdraft fee.

Answer:

$25