Question

Shelley is visiting from London and uses her ATM card to withdraw $200 at local bank B. If local bank B charges $4 for ATM fees per foreign transaction plus 3% of the withdrawal, how much would she own in fees for what transaction? Round to the nearest dollar amount, such as: $6

$5

$4

$10

$7

Answer 1

Transaction Fee = $10

Explanation:

Transaction fee = $4 for ATM fees per foreign transaction + 3% of the withdrawal

Withdrawal = $200

3% of the withdrawal = 3/100 * $200 = $6

Transaction Fee = $4 + $6 = $10