Question 16
Real scenario: you overdrew your account twice in a month. Each overdraft triggers a $35 fee, and on top of that you used an out-of-network ATM once with a $12 fee. Banks treat these as separate line items and fees add directly to your balance, increasing the chance of more overdrafts — a vicious cycle. Simple arithmetic shows how a couple of mishaps can quickly become a larger problem. This question asks you to total the fees so you can see why preventing even one overdraft matters.
If you incur two $35 overdraft fees and one $12 ATM fee in a month, what's the total fees charged?
Did You Also Know...
By Wise Wallet
A backdoor Roth is a legal technique some high earners use to get Roth tax treatment by converting nondeductible IRA funds.