Jerry's Bank Charges 1

question 102

Multiple Choice

Jerry's Bank charges 1.2% per month on the average daily balance as well as the following special fees.
Cash advance fee: 2.5% {minimum of $2 and maximum of $10}
Late payment fee: $30
Over the credit limit fee: $35
One month Jerry was on vacation and did not get his account payment in on time and also went
Over the credit limit. He also used his card for 7 $150 cash advances. His average daily balance was
$3200 for the month. Find the special fees which will be added to his account balance next month.

• A)$77.60
• B)$61.25
• C)$91.25
• D)$129.65

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