Question

What are fees? a. The interest rate that commercial banks charge their most credit-worthy customers. c. A fixed sum charged, as by an institution or by law, for a privilege. b. The fee you pay to use a credit card calculated on outstanding balance and APR percentage. d. Different rates of interest apply to different purchases on a credit card.

Answer 1

Answer:

c. A fixed sum charged, as by an institution or by law, for a privilege.

Explanation:

In summary, we can consider that fees are fixed amounts of money, which must be paid for any service charged by an institution or by the government through laws, which charge for services or social privileges. These fees can be applied in very different ways, the important thing is that they maintain a functional and available service, in addition to charging a price that suffers little variation.