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From California to New York




From California to New York, legislative bodies acrosso the United States are considering eliminating or reducing the surcharges that banks imppse on non customers who make $10million in qirhseQloa deo orhwe banks' ATM machines. On average, noncustomers earn a wage of $20 per hour and pay ATM fees of $2.75per transaction. It is estimated that banks would be willing to maintain services for 4 million transactions at $.075 per transaction, while noncustomers would attempt to conduct 16 million transactions at that price. Estimates suggest that for every 1 million gap between the desired and available transactions, a typical consumer will have to spend an extra minute traveling to another machine to withdraw the cash. Based on this information, use a graph to carefully illustrate the impact of legislation that would place a $0.75 cap on the fees banks can charge for noncustomer transactions.


Paper#31017 | Written in 18-Jul-2015

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