Question

If Margie makes out a check for $27.50 when she has only $10 in her account, her bank may:

A) Charge her an overdraft fee
B) Refuse to honor the check
C) Allow the check to bounce
D) Freeze her account

Answer 1

If Margie makes out a check for $27.50 when she has only $10 in her account, her bank may charge her an overdraft fee.

Step-by-step explanation:

If Margie makes out a check for $27.50 when she has only $10 in her account, her bank may:

Charge her an overdraft fee

Refuse to honor the check

Allow the check to bounce

Freeze her account

The correct answer is A) Charge her an overdraft fee.

When Margie spends more money than she has in her account, some banks may allow the transaction to go through but charge a fee for overdrawing the account.

This fee is known as an overdraft fee and can be quite costly

So in this case,

Margie's bank may charge her an overdraft fee for making a payment of $27.50 when she only has $10 in her account.