Question

You are trying to decide which bank to start an account at. You pull up a website that compares two of the most popular banks in your area. The chart on the site looks like the following one.
Bank A Bank B
Minimum $0.00 $100.00
Deposit
Per month
ATM fees $1.00 None
Overdraft fees $20.00 $10.00
Nearby None 1
Locations
Which of the following statements is true when comparing these two banks?
A. Bank A has lower ATM fees and more locations.
B. Bank B has more locations and lower ATM fees.
C. Bank A has more nearby locations and lower minimum deposits per month.
D. Bank B has lower minimum deposit per month and lower overdraft fees.

Answer 1

Let's evaluate the statements based on the provided information for Bank A and Bank B:

1. **Minimum Deposit Per Month**:
- Bank A: $0.00
- Bank B: $100.00
- Conclusion: Bank A has a lower minimum deposit.

2. **ATM Fees**:
- Bank A: $1.00
- Bank B: None
- Conclusion: Bank B has lower ATM fees.

3. **Overdraft Fees**:
- Bank A: $20.00
- Bank B: $10.00
- Conclusion: Bank B has lower overdraft fees.

4. **Nearby Locations**:
- Bank A: None
- Bank B: 1
- Conclusion: Bank B has more nearby locations.

Now let's analyze each statement:

A. **Bank A has lower ATM fees and more locations.**
- False. Bank A has higher ATM fees than Bank B and no nearby locations.

B. **Bank B has more locations and lower ATM fees.**
- True. Bank B has 1 location and no ATM fees, whereas Bank A has $1.00 ATM fees and no locations.

C. **Bank A has more nearby locations and lower minimum deposits per month.**
- False. Bank A has a lower minimum deposit, but it has no nearby locations.

D. **Bank B has lower minimum deposit per month and lower overdraft fees.**
- False. Bank B has a higher minimum deposit per month than Bank A.

The true statement when comparing these two banks is:
**B. Bank B has more locations and lower ATM fees.**