Add 1, multiply by 2. 2 First

$ 120 per year.

Step-by-step explanation:

Minimum balance for the checking account = $ 500

Monthly charge below minimum balance  =  $10/ month

Victor's planned account balance = $ 50

Since Victor's planned balance is below the minimum, he would be charged a total of :

=  12 month  x $10/ month

= $ 120 per year.

This implies that Victor will need to pay the bank a total of $120 every year for using the checking at a balance below the minimum of $500