We read your photo as:

Calculate the total charge for Themba's banking transactions based on the provided fee structure.

Business/Management

ScanSolve AI Answer

Answers

3 parts
2.1

R55,00\text{R}55,00

2.2

R15,00\text{R}15,00

2.3

R21,00\text{R}21,00

Step-by-step solution

12 steps

Part 2.1

The monthly service fee for this account is the Monthly Account Fee.

Monthly Account Fee=R55,00\text{Monthly Account Fee} = \boxed{\text{R}55,00}

Part 2.2

R15,00\text{R}15,00

  1. Calculate the cost for withdrawing R1000 at a Safe Bank ATM.

    According to Table 1, "Cash Withdrawals (Safe Bank ATM) First R1 500" costs R0,00.

    Cost for R1000 at Safe Bank ATM=R0,00\text{Cost for R1000 at Safe Bank ATM} = \text{R}0,00

  2. Calculate the cost for withdrawing R3000 at an FNB ATM.

    An FNB ATM is an "Other bank ATM". According to Table 1, "Cash Withdrawals (Other bank ATM)" costs R15,00.

    Cost for R3000 at FNB ATM=R15,00\text{Cost for R3000 at FNB ATM} = \text{R}15,00

  3. Calculate the total charge.

    Total charge=R0,00+R15,00=R15,00\text{Total charge} = \text{R}0,00 + \text{R}15,00 = \boxed{\text{R}15,00}

    This calculation shows how Themba was charged R15,00.

Part 2.3

R21,00\text{R}21,00

  1. Identify the cost for the first R1 500 of a Safe Bank ATM withdrawal.

    According to Table 1, "Cash Withdrawals (Safe Bank ATM) First R1 500" costs R0,00.

    Cost for first R1 500=R0,00\text{Cost for first R1 500} = \text{R}0,00

  2. Calculate the amount withdrawn that is more than R1 500.

    Amount over R1 500=R1730−R1500=R230\text{Amount over R1 500} = \text{R}1 730 - \text{R}1 500 = \text{R}230

  3. Calculate the number of R50 parts in the amount over R1 500.

    Number of R50 parts=R230R50=4.6\text{Number of R50 parts} = \frac{\text{R}230}{\text{R}50} = 4.6

    Since the fee is "per R50 (or part thereof)", 4.6 parts are rounded up to 5 parts.

    Number of R50 parts (rounded up)=5\text{Number of R50 parts (rounded up)} = 5

  4. Calculate the cost for the amount over R1 500.

    According to Table 1, for amounts "More than R1 500" at a Safe Bank ATM, the fee is R15,00 + R1,20 per R50 (or part thereof).

    Cost for amount over R1 500=R15,00+(5×R1,20)\text{Cost for amount over R1 500} = \text{R}15,00 + (5 \times \text{R}1,20) Cost for amount over R1 500=R15,00+R6,00=R21,00\text{Cost for amount over R1 500} = \text{R}15,00 + \text{R}6,00 = \text{R}21,00

  5. Calculate the total cost of the withdrawal.

    Total cost=Cost for first R1 500+Cost for amount over R1 500\text{Total cost} = \text{Cost for first R1 500} + \text{Cost for amount over R1 500} Total cost=R0,00+R21,00=R21,00\text{Total cost} = \text{R}0,00 + \text{R}21,00 = \boxed{\text{R}21,00}

Part 2.4· 4 steps

  1. Identify the Monthly Account Fee.

    Monthly Account Fee=R55,00\text{Monthly Account Fee} = \text{R}55,00

  2. Identify the cost for Cash Withdrawals (Other bank ATM).

    Cash Withdrawals (Other bank ATM)=R15,00\text{Cash Withdrawals (Other bank ATM)} = \text{R}15,00

  3. Calculate the difference between these two fees.

    Difference=Monthly Account Fee−Cash Withdrawals (Other bank ATM)\text{Difference} = \text{Monthly Account Fee} - \text{Cash Withdrawals (Other bank ATM)} Difference=R55,00−R15,00=R40,00\text{Difference} = \text{R}55,00 - \text{R}15,00 = \text{R}40,00

  4. Verify Themba's claim.

    Themba claims the difference is R14. Our calculation shows the difference is R40,00.
    Therefore, Themba's claim is incorrect.

Was this helpful?

Still stuck on this one?

Ask a follow-up, and the answer starts from this question.

Got a different question?Ask your own question

More Business/Management Questions

QCalculate the fee for a R400 cash deposit made at a branch counter, given a fee structure of R7…QCalculate the total amount to be given based on the provided transactions and calculations.QCalculate the fees for different ATM and teller withdrawal scenarios.Q1.1 Define basic charge. 1.1.2 Show how the tariff of R38,62 during 2025/2026 was calculated.QCalculate the total water cost for the Ndlovu family, given their consumption and the municipality's…
See all Business/Management questions →
Got a syllabus? Photograph it and I'll tell you what's due and what's worth the most.