Question

You have decided both to open a savings account and to purchase a vehicle. You would like a savings account with the highest interest rate and a vehicle loan with a low interest rate. You currently have a checking account at Bank A. From the banks listed below, determine with which bank you should open a savings account and at which bank should you apply for your vehicle loan. 2 tables. A 2-column table with 3 rows titled Loan Rates. Column 1 has entries Bank A, Bank B, Bank C. Column 2 has entries 5 percent, 4.6 percent, 5.1 percent. A 2-column table with 3 rows titled Savings Rates. Column 1 has entries Bank A, Bank B, Bank C. Column 2 has entries 0.13 percent, 0.1 percent, 0.11 percent. a. Bank A for the car loan and Bank B for the savings account b. Bank C for the car loan and Bank C for the savings account c. Bank B for the car loan and Bank A for the savings account d. Bank B for the car loan and Bank B for the savings account

Answer 1

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