Question

Irma has $500 to open a checking account. She wants an account with the lowest fees and plans to use only her bank’s ATM. Which checking account would be best for Irma?

a. Account A
b. Account B
c. Account C
d. Account D

Answer 1

For Irma, Account C would be the best choice due to its low fees and no ATM charges.

Step-by-step explanation:

To find the best checking account for Irma, we need to consider her main requirements of low fees and exclusive use of her bank's ATM. Account A, offered by her bank, has a monthly fee of $5 and charges a $2 fee for using non-bank ATMs. Account B has a monthly fee of $10 but doesn't charge any ATM fees. Account C has a monthly fee of $3 and no ATM fees. Account D has a monthly fee of $7 and a $1 fee for using non-bank ATMs. Based on Irma's requirements, Account C would be the best option for her. It has the lowest monthly fee and doesn't charge any ATM fees, making it the most cost-effective choice for her.