Question

Juana has been earning money by babysitting on weekends. She plans to go to college when she graduates from high school in three years, and she’s trying to save as much money as she can. Juana also received some cash gifts for her recent quinceañera, or 15th birthday celebration. Juana’s mother is going to take her to the local branch of their bank to learn what she can do with her money to help save for college.

What advice will a bank employee most likely give Juana?

The employee will advise Juana to open a checking account so she can easily pay her bills.
The employee will advise Juana to open a savings account to earn interest on her money.
The employee will advise Juana to get a debit card so she has money for college expenses.
The employee will advise Juana to apply for a loan so she can begin to pay for college.

Answer 1

The employee will advise Juana to open a savings account to earn interest on her money.

Reason: A savings account is designed for setting money aside and earning interest, which helps grow her funds for college. Checking accounts and debit cards are for spending and transactions, and taking a loan at 15 is unnecessary and not a good way to save.