meira has a checking account with a bank that charges a $10 monthly fee. the bank waives the fee if her…

meira has a checking account with a bank that charges a $10 monthly fee. the bank waives the fee if her balance stays above $500 for the entire month. if her balance drops below $500 any time during the month, then she is charged the $10 fee. the bank does not charge atm fees for using its own atms, but they do charge $4 for using out - of - network atms. they also charge a $15 fee for each overdraft. an overview of meiras banking activity for one month is shown. week 1: meiras balance is $700. she makes one withdrawal for $100 at an out - of - network atm. week 2: meira withdraws $200 from her banks atm. week 3: meiras employer deposits $940 into her checking account. week 4: meira withdraws $40 from an out - of - network atm and pays bills totaling $180. which would cost meira the most money? making withdrawals from her banks atm every week during a month using an out - of - network atm three times during a month paying a bill that causes her account balance to go below $0 allowing her account balance to drop below $500

meira has a checking account with a bank that charges a $10 monthly fee. the bank waives the fee if her balance stays above $500 for the entire month. if her balance drops below $500 any time during the month, then she is charged the $10 fee. the bank does not charge atm fees for using its own atms, but they do charge $4 for using out - of - network atms. they also charge a $15 fee for each overdraft. an overview of meiras banking activity for one month is shown. week 1: meiras balance is $700. she makes one withdrawal for $100 at an out - of - network atm. week 2: meira withdraws $200 from her banks atm. week 3: meiras employer deposits $940 into her checking account. week 4: meira withdraws $40 from an out - of - network atm and pays bills totaling $180. which would cost meira the most money? making withdrawals from her banks atm every week during a month using an out - of - network atm three times during a month paying a bill that causes her account balance to go below $0 allowing her account balance to drop below $500

Answer

Explanation:

Step1: Analyze Option 1

If she allows her account balance to drop below $500, she will be charged the $10 monthly fee.

Step2: Analyze Option 2

Paying a bill that causes her account balance to go below $0 will result in an overdraft fee of $15.

Step3: Analyze Option 3

Using an out - of - network ATM three times means a fee of $1\times3 = $3. There is no mention of balance dropping below $500, so no monthly fee. Total cost is $3.

Step4: Analyze Option 4

Making withdrawals from her bank's ATM every week. There is no fee for using her bank's ATM, so cost is $0.

Step5: Compare costs

$15 (overdraft fee) > $10 (monthly fee if balance < $500) > $3 (out - of - network ATM fees) > $0 (bank's ATM withdrawals).

Answer:

Paying a bill that causes her account balance to go below $0