Evelyn during one month had 63 online transactions and 4 e-mail money transfers. Evelyn's monthly balance fell below $2000 various times during the month. What were her service charges for that month? The account information is given below
Up to 20 online transactions for $9.50 per month and $0.50 for each transaction over 20
$3.50 for each e-mail transfer
online transactions are free if a minimum balance of $2000 is kept for the entire month
Since Evelyn violated her agreement of maintaining a balance of $2,000 for the entire month, she therefore will get charged for all the online and e-mail transactions.
She will pay $9.50 for the first 20 online transactions.
63 - 20 =43 transactions for which she will pay $0.50 for each
43 x $0.50 =$21.50
4 x $3.50 =$14.00 - charges for e-mail transfers.
$9.50 + $21.50 + $14.00 =$45.00 total charges for the month that Evelyn will have to pay.