Question
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Checking Accounts and Debit Cards Quick Check
5 of 55 of 5 Items
Question
You are trying to decide which bank to start an account at. You pull up a website that compares four of the most popular banks in your area. The chart on the site looks like the following one.
Bank A Bank B Bank C Bank D
Minimum Deposit Per Month $0.00 $100.00 $50.00 $10.00
ATM Fees $1.00 None $5.00 $3.00
Overdraft Fees $20.00 $10.00 None $40.00
Nearby Locations None 1 3 5
You make money occasionally tutoring. You like the idea of going into the bank and talking to someone when making transactions. You are pretty organized and think you will be able to keep track of how much money is in your account, so you are not concerned about overdraft fees. Which bank would be the best fit for your needs?
(1 point)
Responses
Bank B
Bank B
Bank C
Bank C
Bank A
Bank A
Bank D
Bank D
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Checking Accounts and Debit Cards Quick Check
5 of 55 of 5 Items
Question
You are trying to decide which bank to start an account at. You pull up a website that compares four of the most popular banks in your area. The chart on the site looks like the following one.
Bank A Bank B Bank C Bank D
Minimum Deposit Per Month $0.00 $100.00 $50.00 $10.00
ATM Fees $1.00 None $5.00 $3.00
Overdraft Fees $20.00 $10.00 None $40.00
Nearby Locations None 1 3 5
You make money occasionally tutoring. You like the idea of going into the bank and talking to someone when making transactions. You are pretty organized and think you will be able to keep track of how much money is in your account, so you are not concerned about overdraft fees. Which bank would be the best fit for your needs?
(1 point)
Responses
Bank B
Bank B
Bank C
Bank C
Bank A
Bank A
Bank D
Bank D
Skip to navigation
Answers
GPT-4o mini
Based on the information provided, here’s a breakdown of the factors that seem important to you:
1. **Minimum Deposit Per Month**: You may want a bank that does not require a high minimum deposit since you make money occasionally.
- Bank A: $0.00
- Bank B: $100.00
- Bank C: $50.00
- Bank D: $10.00
2. **ATM Fees**: Lower or no ATM fees would be preferable for occasional withdrawals.
- Bank A: $1.00
- Bank B: None
- Bank C: $5.00
- Bank D: $3.00
3. **Overdraft Fees**: Since you are organized and not concerned about overdraft fees, this may not be a significant factor; however, it's still worth noting.
- Bank A: $20.00
- Bank B: $10.00
- Bank C: None
- Bank D: $40.00
4. **Nearby Locations**: Having nearby locations for in-person transactions is important to you.
- Bank A: None
- Bank B: 1
- Bank C: 3
- Bank D: 5
Considering your needs for low minimum deposits, low or no ATM fees, and having nearby locations, **Bank D** appears to be the best fit despite its higher overdraft fees. It has a very low minimum deposit requirement ($10), a reasonable ATM fee ($3), and the most nearby locations (5), which aligns well with your preference for in-person transactions.
Thus, the best choice for you would be:
**Bank D**
1. **Minimum Deposit Per Month**: You may want a bank that does not require a high minimum deposit since you make money occasionally.
- Bank A: $0.00
- Bank B: $100.00
- Bank C: $50.00
- Bank D: $10.00
2. **ATM Fees**: Lower or no ATM fees would be preferable for occasional withdrawals.
- Bank A: $1.00
- Bank B: None
- Bank C: $5.00
- Bank D: $3.00
3. **Overdraft Fees**: Since you are organized and not concerned about overdraft fees, this may not be a significant factor; however, it's still worth noting.
- Bank A: $20.00
- Bank B: $10.00
- Bank C: None
- Bank D: $40.00
4. **Nearby Locations**: Having nearby locations for in-person transactions is important to you.
- Bank A: None
- Bank B: 1
- Bank C: 3
- Bank D: 5
Considering your needs for low minimum deposits, low or no ATM fees, and having nearby locations, **Bank D** appears to be the best fit despite its higher overdraft fees. It has a very low minimum deposit requirement ($10), a reasonable ATM fee ($3), and the most nearby locations (5), which aligns well with your preference for in-person transactions.
Thus, the best choice for you would be:
**Bank D**