online banking pp. 182-187 4-6 section. click to edit master text styles second level third level...
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Online Banking pp. 182-1874-6SECTIONSECTION
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Section ObjectiveSection ObjectiveCompute:
• online banking charges
Update:
• the check register
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online banking (p. 182)
Doing bank transactions, such as loan payments and funds transfers, electronically over the Internet.
Key Words to KnowKey Words to Know
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Total Fees = Basic Charge + Bill Payments + Statement + ATM Surcharge + Cash Advance Fee
FormulaFormula
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How might online banking affect Pinsky’s knowledge of the money in Fleet Footed’s bank account?
Fleet Footed Finances p. 182Fleet Footed Finances p. 182
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Tiwana Gombash uses the online banking plan shown below. She pays the basic charge, 7 bills, plus she requests a printed statement. She also has ATM transactions, including 1 out-of-network, and a cash advance of $400.00.
What are her total fees for the month?
Example 1Example 1
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Figure 4.14Figure 4.14
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Step: Add the fees.
Basic Charge + Bill Payments + Statement + ATM Surcharge + Cash Advance Fee
$6.95 + $0.50 (7-5) + $4.00 + $3.00 + (2% × $400)
$6.95 + $1.00 + $4.00 + $3.00 + $8.00 = $22.95
Example 1 AnswerExample 1 Answer
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Use Tiwana Gombash’s online banking plan above above to calculate the fees.
Service: Basic charge, 11 bills paid, printed statement, International wire transfer.
ATM: 2 regional, 1 national, $700 cash advance online banking fee?
Practice 1Practice 1
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Practice 1 AnswerPractice 1 Answer
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Use Tiwana Gombash’s online banking plan above above to calculate the fees.
Service: Basic charge, 18 bills, 1 overdraft.ATM: 4 national, 2 out of network, cash advance of $200..
Practice 2Practice 2
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Practice 2 AnswerPractice 2 Answer
Online Banking4-6END OF SECTIONEND OF SECTION