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

four banks. 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: $35 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: $35 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? $15, $21, $6, $0

four banks. 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: $35 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: $35 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? $15, $21, $6, $0

Answer

Explanation:

Step1: Determine monthly maintenance fee

Since the customer maintains a daily balance of $650 which is over $500, the $15 monthly maintenance fee is waived. So the monthly - maintenance - fee is $0.

Step2: Calculate ATM fees

The customer uses an out - of - network ATM twice. The out - of - network ATM fee is $3 per occurrence. So the total ATM fee is $3×2 = $6.

Step3: Calculate total fees

The total fees for the month is the sum of the monthly maintenance fee and the ATM fees. Since the monthly maintenance fee is $0 and the ATM fees are $6, the total fees are $6.

Answer:

$6