fee structures and services at four banks\nsunshine regional bank\nmonthly maintenance fee: $10, waived with…

fee structures and services at four banks\nsunshine regional bank\nmonthly maintenance fee: $10, waived with a minimum daily balance of $1,000\natm fee: $2 for out - of - network atms; no fee for in - network atms\noverdraft fee: $30 per occurrence\nminimum balance fee: $0\nwire transfer fee: $20 for domestic, $30 for international\nsavings account interest rate: 0.5% annual percentage yield (apy)\nspecial feature: offers a free safe deposit box for accounts with balances over $2,000\npioneer digital bank\nmonthly maintenance fee: $0\natm fee: $0 for in - network atms; $1 for out - of - network atms\noverdraft fee: $20 per occurrence, with optional overdraft protection\nminimum balance fee: $0\nwire transfer fee: $10 for domestic, $20 for international\nsavings account interest rate: 1.2% annual percentage yield (apy)\nspecial feature: provides advanced digital banking tools, including\na sunshine regional bank customer maintains a daily balance of $500, and makes two domestic wire transfers, and uses an out - of - network atm four times. what is their total fee for the month?\n$28\n$48\n$38\n$58

fee structures and services at four banks\nsunshine regional bank\nmonthly maintenance fee: $10, waived with a minimum daily balance of $1,000\natm fee: $2 for out - of - network atms; no fee for in - network atms\noverdraft fee: $30 per occurrence\nminimum balance fee: $0\nwire transfer fee: $20 for domestic, $30 for international\nsavings account interest rate: 0.5% annual percentage yield (apy)\nspecial feature: offers a free safe deposit box for accounts with balances over $2,000\npioneer digital bank\nmonthly maintenance fee: $0\natm fee: $0 for in - network atms; $1 for out - of - network atms\noverdraft fee: $20 per occurrence, with optional overdraft protection\nminimum balance fee: $0\nwire transfer fee: $10 for domestic, $20 for international\nsavings account interest rate: 1.2% annual percentage yield (apy)\nspecial feature: provides advanced digital banking tools, including\na sunshine regional bank customer maintains a daily balance of $500, and makes two domestic wire transfers, and uses an out - of - network atm four times. what is their total fee for the month?\n$28\n$48\n$38\n$58

Answer

Explanation:

Step1: Check monthly maintenance fee

The monthly maintenance fee of $10 is waived as the customer maintains a daily balance of $500 (minimum daily balance required is $1000 to waive, but no mention of non - waiver fee if below $1000 and above $0). So, monthly maintenance fee = $0.

Step2: Calculate wire transfer fees

The customer makes 2 domestic wire transfers at $10 each. So, wire transfer fees = 2×$10 = $20.

Step3: Calculate ATM fees

The customer uses out - of - network ATMs 4 times at $2 per use. So, ATM fees = 4×$2 = $8.

Step4: Calculate total fees

Total fees = monthly maintenance fee+wire transfer fees+ATM fees = $0 + $20+ $8 = $28.

Answer:

$28