Bob’s bank charges him a $3.15 service fee every time he uses an out-of-network ATM. If Bob uses an out-of-network ATM an average of three times every two weeks, how much will he pay in service fees over the course of a year?

Question

a.
$327.60
b.
$109.20
c.
$491.40
d.
$245.70

Answer 1

To calculate how much Bob will pay in service fees over the course of a year, we can follow these steps:

1. Calculate the number of out-of-network ATM uses in a year:

   • Bob uses an out-of-network ATM an average of 3 times every 2 weeks.
   • There are 52 weeks in a year. Thus, the number of 2-week periods in a year is \( \frac{52}{2} = 26 \).
   • Therefore, the total number of ATM uses in a year is \( 3 \times 26 = 78 \).

2. Calculate the total service fees:

   • The service fee per use is $3.15.
   • Total service fees for the year is \( 78 \times 3.15 \).

Now, let's do the calculation:

\[ 78 \times 3.15 = 245.70 \]

Thus, Bob will pay $245.70 in service fees over the course of a year.

The correct answer is: d. $245.70