Question

Joley is opening her first checking account as a teenager. She doesn’t have a job, so most of the income will be presents from birthdays and holidays. Bank A has a $8 monthly charge. Bank B charges 2% of the balance. Which account balance below will result in bank B being a better financial choice?
A. $300

B. $450

C. $800

D. $900

Answer 1

The answer is A. The reason for this is because 2% of $300 is $6. Since 6 is less than 8, the answer is A.