ACI
3I0-013 · Question #173
Due to an error by your dealers, your bank is 5 days late in paying EUR 10,000,000.00. Your correspondent bank says it will charge you 6% p.a. plus reserve costs of EUR 1.00 per thousand. How much…
The correct answer is D. EUR 18,333.33. See the full explanation below for the reasoning.
Question
Due to an error by your dealers, your bank is 5 days late in paying EUR 10,000,000.00. Your correspondent bank says it will charge you 6% p.a. plus reserve costs of EUR 1.00 per thousand. How much will your account be charged for this overdraft?
Options
- AEUR 8,219.18
- BEUR 8,333.33
- CEUR 18,219.18
- DEUR 18,333.33
How the community answered
(32 responses)- A16% (5)
- B6% (2)
- C3% (1)
- D75% (24)
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