Question

Irma has $500 to open a checking account. She wants an account with the lowest fees. She plans to use only her bank’s ATM to deposit her paychecks and withdraw cash. Bank Account Terms and Conditions Which checking account would be best for Irma? Account A Account B Account C Account D

Answer 1

Answer:

Account A

Explanation:

Since Irma has $500 to open a checking account and She wants an account with the lowest fees.

She plans to use only her bank’s ATM to deposit her paychecks and withdraw cash.

The Bank Account Terms and Conditions that would be best for Irma is Account A.

Account A will be sufficient as there is no indication for writing of checks and issuing checks  to clients as a form of payment, including the fact that the amount Irma has to open the account is just a base amount of $500

Answer 2

Answer:

Account A

Explanation:

Since Irma has $500 she should have no problem opening any of the accounts:

• Account A minimum balance $500 OK
• Account B minimum balance $250 OK
• Account C minimum balance $50 OK
• Account D minimum balance $100 OK

She only plans on using her bank's ATMs:

• Account A ATM fees $0 OK
• Account B ATM fees $0 OK
• Account C ATM fees $2 BAD
• Account D ATM fees $0 OK

She wants to pay the lowest possible fees:

• Account A monthly fees $0 OK
• Account B monthly fees $5 BAD
• Account C monthly fees $10 or $0 with direct deposit BAD
• Account D monthly fees $5 or $0 with direct deposit BAD

The only account that satisfies all of Irma's needs is account A.