community trust bank\nmonthly maintenance fee: $5 (waived with a minimum daily balance of $500 or with a…

community trust bank\nmonthly maintenance fee: $5 (waived with a minimum daily balance of $500 or with a student id)\natm fee: $1.50 for out - of - network atms. no fee for in - network atms\noverdraft fee: $25 per occurrence\nminimum balance fee: $0\nwire transfer fee: $15 for domestic, $25 for international\nsavings account interest rate: 0.3% annual percentage yield (apy)\nspecial feature: offers financial education workshops for account holders\nglobal exchange bank\nmonthly maintenance fee: $15 waived with a minimum daily balance of $2,000 with monthly direct deposits of $1,000\natm fee: $3 for in - network and international atms, $3 out - of - network domestic atms\noverdraft fee: $35 per occurrence\nminimum balance fee: $10 if the balance falls below $500\nwire transfer fee: free for domestic, $20 for international\nsavings account interest rate: 0.4% annual percentage yield (apy)\nspecial feature: offers multi - currency accounts and favorable exchange rates\na student opens an account with community trust bank and maintains a balance of $300. he uses an out - of - network atm twice during the month, and uses an in - network atm three times during the same month. what are his total fees for the month?\n$3\n$5\n$8\n$9

community trust bank\nmonthly maintenance fee: $5 (waived with a minimum daily balance of $500 or with a student id)\natm fee: $1.50 for out - of - network atms. no fee for in - network atms\noverdraft fee: $25 per occurrence\nminimum balance fee: $0\nwire transfer fee: $15 for domestic, $25 for international\nsavings account interest rate: 0.3% annual percentage yield (apy)\nspecial feature: offers financial education workshops for account holders\nglobal exchange bank\nmonthly maintenance fee: $15 waived with a minimum daily balance of $2,000 with monthly direct deposits of $1,000\natm fee: $3 for in - network and international atms, $3 out - of - network domestic atms\noverdraft fee: $35 per occurrence\nminimum balance fee: $10 if the balance falls below $500\nwire transfer fee: free for domestic, $20 for international\nsavings account interest rate: 0.4% annual percentage yield (apy)\nspecial feature: offers multi - currency accounts and favorable exchange rates\na student opens an account with community trust bank and maintains a balance of $300. he uses an out - of - network atm twice during the month, and uses an in - network atm three times during the same month. what are his total fees for the month?\n$3\n$5\n$8\n$9

Answer

Explanation:

Step1: Identify out - of - network ATM fee

The out - of - network ATM fee for students is $1.50 per occurrence. The student uses an out - of - network ATM twice, so the out - of - network ATM fee is $1.50×2 = $3.

Step2: Identify in - network ATM fee

There is no fee for in - network ATMs for students. The student uses in - network ATMs three times, so the in - network ATM fee is $0×3 = $0.

Step3: Identify monthly maintenance fee

The monthly maintenance fee of $5 is waived with a minimum daily balance of $500. Since the student maintains a balance of $300, the monthly maintenance fee is applicable and is $5.

Step4: Calculate total fees

The total fees are the sum of out - of - network ATM fees and monthly maintenance fee. So, total fees=$3 + $5=$8.

Answer:

$8