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?

$ 120 per year.

Step-by-step explanation:

Minimum balance for the checking account = $ 500

Monthly charge below minimum balance  =  $10/ month

Victor's planned account balance = $ 50

Since Victor's planned balance is below the minimum, he would be charged a total of :

=  12 month  x $10/ month

= $ 120 per year.

This implies that Victor will need to pay the bank a total of $120 every year for using the checking at a balance below the minimum of $500

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