Question

Bryna has $300 to open a checking account. She wants an account with the least amount of fees. She does not plan on using an ATM and her employer offers direct deposit.

A 6-column table with 3 rows. Column 1 has entries A, B, C. Column 2 is labeled Minimum Balance with entries 500 dollars, 250 dollars, 50 dollars. Column 3 is labeled Interest with entries 0.1 percent, 0 percent, 0 percent. Column 4 is labeled Overdraft protection with entries yes, no, no. Column 5 is labeled A T M Fees with entries 0 dollars for all A T M s, 0 dollars for A B C banks A T M s, 2 dollars per transaction. Column 6 is labeled Monthly Fee with entries 5 dollars, 10 dollars, 0 dollars with direct deposit.

Bryna should choose account
.

Answer 1

Bryna should choose account C.

Reason: she has only $300 (so she can't meet A's $500 minimum), she won't use ATMs, and her employer offers direct deposit — account C has a $50 minimum and a $ $0 monthly fee with direct deposit, so it minimizes fees.