details about four different banks are shown. metro - city bank. minimum balance: $500. monthly maintenance…

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 - of - network. overdraft fee: $15 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 - of - network. overdraft fee: $15 for each occurrence. wire transfer fee: $10 for domestic transfers, $20 for international transfers. first community credit union. minimum balance: $0. monthly maintenance fee: $0. atm fee: $0 for in - network, $2 for out - of - network. overdraft fee: $15 for each occurrence. wire transfer fee: $10 for domestic transfers, $20 for international transfers. a customer at metro city bank maintains a daily balance of $650 and uses an out - of - network atm twice. what will be their total fees for the month? $21, $6, $0, $15

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 - of - network. overdraft fee: $15 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 - of - network. overdraft fee: $15 for each occurrence. wire transfer fee: $10 for domestic transfers, $20 for international transfers. first community credit union. minimum balance: $0. monthly maintenance fee: $0. atm fee: $0 for in - network, $2 for out - of - network. overdraft fee: $15 for each occurrence. wire transfer fee: $10 for domestic transfers, $20 for international transfers. a customer at metro city bank maintains a daily balance of $650 and uses an out - of - network atm twice. what will be their total fees for the month? $21, $6, $0, $15

Answer

Explanation:

Step1: Identify applicable fees

The customer maintains a daily - balance of $650 which is over the $500 minimum balance requirement for Metro City Bank, so the monthly maintenance fee of $15 is waived. The only applicable fee is the out - of - network ATM fee.

Step2: Calculate total out - of - network ATM fees

The out - of - network ATM fee is $3 per use, and the customer uses out - of - network ATMs twice. So the total out - of - network ATM fees are $3×2 = $6.

Answer:

$6