If a person has ATM fees each month of $16 for 7 years, what would be the total cost of those banking fees

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07-02-2022
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If a person has ATM fees each month of $16 for 7 years, what would be the total cost of those banking fees

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Ayokenny2001idn Ayokenny2001idn · Answer 1 · 2022-02-21T06:00:23-05:00

The total cost of those banking fees for the 7 years would be $1,344

What is bank fee?

Bank fee are fees paid to the financial institution one opened the account with, simply to keep it open and running and covers a certain number of transactions per month. Banks charge bank fees to pay salaries and other overheads, and physical branches.

With regards to the above,

Total cost

= Cost per month × 12 months per year × Number of years

= $16 × 12 × 7

= $1,344

Hence, the total cost of those banking fees for the 7 years would be $1,344

Learn more about banking fees here : https://brainly.com/question/24124875

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What is bank fee?

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