Question

Megg Stallion wants to open an account with a balance of about 300, issued checks 50, and makes 6 deposits each month. Which bank(s) will be most fitting if she expects to always maintain a minimum of her monthly contribution and does not mind spending at most $6 per month

Answer 1

Megg Stallion should consider opening a checking account at a bank that offers free checking accounts and allows at least 6 deposits each month. She should also choose a bank with a minimum balance requirement that aligns with her desired monthly contribution of about $300.

Step-by-step explanation:

Megg Stallion should consider opening a checking account at a bank that offers free checking accounts. By choosing a bank with free checking, she can avoid spending any money on monthly fees for the account.

Additionally, Megg Stallion should look for a bank that allows her to make at least 6 deposits each month. This will ensure that she can regularly contribute to her account without any limitations.

Lastly, Megg Stallion should choose a bank that has a minimum balance requirement that aligns with her desired monthly contribution of about $300. This will allow her to maintain her desired balance without incurring any penalties.

Answer 2

Answer: Regular checking account with a monthly fee $4 for an unlimited number of checks,no monthly balance required and no interest earning.

Step-by-step explanation:

I searched further online and got the options. The correct option will be "Regular checking account with a monthly fee $4 for an unlimited number of checks,no monthly balance Required and no interest earning"

Since Megg has an opening balance of 300, she can't open a account that requires a minimum balance of 400. Likewise, it'll be unwise to charges $6 monthly when the balance in the account falls below 300.

Therefore, she should open this account with a monthly fee of $4 and no minimum monthly balance required since the cost of keeping the account is cheaper and better than others.