Question

Kailey's parents are planning to open a savings account for her future college expenses. To help their money grow faster, Kailey's parents will want to find a bank A) that has a low interest rate. B) that has a high interest rate. C) that provides a monthly statement. D) that gives the best gift when you open an account.

Answer 1

The answer is B. Have a great day.

Answer 2

we are given that

Kailey's parents are planning to open a savings account for her future college expenses. To help their money grow faster.

Since they want the money to grow faster and money can grow faster only if the bank pays higher interest on the savings.

Hence

Kailey's parents should choose a bank that has a high interest rate.

Hence the correct option is (B)