SECTION 4-6 Online Banking pp. 182-187.

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Presentation transcript:

SECTION 4-6 Online Banking pp. 182-187

Key Words to Know online banking (p. 182) Doing bank transactions, such as loan payments and funds transfers, electronically over the Internet.

Formula Total Fees = Basic Charge + Bill Payments + Statement + ATM Surcharge + Cash Advance Fee

Example 1 Brittany Reynolds 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?

Figure 4.14

Example 1 Answer 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

183-187: 1-7 END OF SECTION 4-6 Online Banking