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 dep
osit 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
2 answers:
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.
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Answer:
Following are the answer to the given point.
Explanation:
In point A:
Calculating Percentage Return:
In point B:
calculating the Purchase value:
calculating the sale value:
In point C:
calculating the Investmet Return:
In point D:
Due to varying currency rates, the two results are unique. That first return is more important since Joe lives in the United States, so, his real return or how much of his investment will be paid are measured.