Question

Lucy will open a checking account and 3 savings accounts for different purposes (emergency fund, gift fund, and education fund). which of the following items should not be among her main considerations in selecting these accounts? a. the account recommended for somebody with different needs. b. the amount of interest to be paid on deposits. c. any advantages of having all the accounts at the same bank. d. fees for having multiple savings accounts.

Answer 1

The item that should not be among Lucy's main considerations in selecting these accounts are that the account recommended for somebody with different needs.

What is checking account?

A transaction account is a deposit account kept at a bank or other financial institution. It is also known as a checking account, checking account, current account, request deposit account, or shared draft account at credit unions.

In the above situation, Lucy will have to pay the amount of interest to be on deposits, and eligible to any advantages of having all the accounts at the same bank.

Lucy will also bear the fees for having multiple savings accounts, as having a multiple accounts increases the fees of all the accounts.

The account cannot be opened for the need of somebody, it is opened for the banking transactions and for depositing the money.

Therefore, option A is correct.

Learn more about the checking account, refer to:

brainly.com/question/20984186