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Nathan has [tex]$\$[/tex]300[tex]$ to open a checking account. He wants an account with the lowest fees. He plans on using the ATM machine, and his employer offers direct deposit.

Bank Account Terms and Conditions
\begin{tabular}{|c|c|c|c|c|c|}
\hline
& \begin{tabular}{l}
Min \\
Balance
\end{tabular} & Interest & \begin{tabular}{l}
Overdraft \\
Protection
\end{tabular} & ATM Fees & Monthly Fee \\
\hline
$[/tex]\bar{A}[tex]$ & $[/tex]\[tex]$500$[/tex] & [tex]$0.1\%$[/tex] & yes & \begin{tabular}{l}
[tex]$\$[/tex]0[tex]$ for all \\
ATMs
\end{tabular} & $[/tex]\[tex]$0$[/tex] \\
\hline
B & [tex]$\$[/tex]250[tex]$ & $[/tex]0\%[tex]$ & no & \begin{tabular}{l}
$[/tex]\[tex]$0$[/tex] for ABC \\
bank ATMs
\end{tabular} & [tex]$\$[/tex]5[tex]$ \\
\hline
C & $[/tex]\[tex]$50$[/tex] & [tex]$0\%$[/tex] & no & \begin{tabular}{l}
[tex]$\$[/tex]2[tex]$ per \\
transaction
\end{tabular} & \begin{tabular}{l}
$[/tex]\[tex]$10$[/tex] or \\
[tex]$\$[/tex]0[tex]$ with direct \\
deposit
\end{tabular} \\
\hline
D & $[/tex]\[tex]$100$[/tex] & [tex]$0.1\%$[/tex] & no & \begin{tabular}{l}
[tex]$\$[/tex]0[tex]$ per \\
transaction
\end{tabular} & \begin{tabular}{l}
$[/tex]\[tex]$5$[/tex] or [tex]$\$[/tex]0[tex]$ with \\
direct deposit
\end{tabular} \\
\hline
\end{tabular}

Which checking account would be best for Nathan?

A. Account $[/tex]\bar{A}$
B. Account B
C. Account C
D. Account D

Sagot :

GinnyAnswer
Let's analyze each bank account option for Nathan.

### Account A:
- Minimum Balance: \[tex]$500 - Interest: 0.1% - Overdraft Protection: Yes - ATM Fees: \$[/tex]0 for all ATMs
- Monthly Fee: \[tex]$0 Analysis: Nathan has \$[/tex]300, which is below the minimum balance requirement of \[tex]$500. Hence, Nathan won't be able to open this account. ### Account B: - Minimum Balance: \$[/tex]250
- Interest: 0%
- Overdraft Protection: No
- ATM Fees: \[tex]$0 for ABC bank ATMs - Monthly Fee: \$[/tex]5

Analysis: Nathan can meet the minimum balance requirement, but he will incur a \[tex]$5 monthly fee. However, there are no ATM fees if he uses ABC bank ATMs. ### Account C: - Minimum Balance: \$[/tex]50
- Interest: 0%
- Overdraft Protection: No
- ATM Fees: \[tex]$2 per transaction - Monthly Fee: \$[/tex]10, or \[tex]$0 with direct deposit Analysis: Nathan can meet the minimum balance requirement. If he uses direct deposit (which his employer offers), the monthly fee will be \$[/tex]0. However, there will be a \[tex]$2 per transaction fee for using ATMs. ### Account D: - Minimum Balance: \$[/tex]100
- Interest: 0.1%
- Overdraft Protection: No
- ATM Fees: \[tex]$0 per transaction - Monthly Fee: \$[/tex]5, or \[tex]$0 with direct deposit Analysis: Nathan can meet the minimum balance requirement. If he uses direct deposit (which his employer offers), the monthly fee will be \$[/tex]0. Additionally, there are no ATM fees.

### Conclusion
Given Nathan's circumstances:
- He has \[tex]$300 to open the account. - He plans on using the ATM machine. - His employer offers direct deposit. Account D appears to be the best option for Nathan. It offers: - No monthly fee with direct deposit. - No ATM transaction fees. - A manageable minimum balance requirement of \$[/tex]100.

Therefore, Account D is the best choice for Nathan.
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