Victor Read the Fine Print for a Checking Account He

question 56

Multiple Choice

Victor read the fine print for a checking account he was thinking about using.The fine print said,"A minimum balance of $500 is required.If your balance falls below this level,you will be assessed a monthly fee of $10." Since Victor was planning to keep only a $50 balance in his account,how much could he be charged each year?

• A) $0.00
• B) $10.00
• C) $40.00
• D) $50.00
• E) $120.00

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Definitions:

Understand

To grasp the meaning, significance, or nature of something.

Internalize

The process of incorporating or assimilating certain values, attitudes, or norms into one's own belief system or behavior.

Work

The physical or mental effort directed towards producing or accomplishing something, often associated with employment or labor.

Consensus

General agreement among the members of a group or community.