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\begin{tabular}{|c|c|c|c|c|c|}
\cline { 2 - 6 } \multicolumn{1}{c|}{} & \begin{tabular}{c}
Minimum \\
Balance
\end{tabular} & Interest & \begin{tabular}{c}
Overdraft \\
Protection
\end{tabular} & ATM Fees & Monthly Fee \\
\hline
A & [tex]$\$[/tex] 500[tex]$ & $[/tex]0.1 \%[tex]$ & yes & \begin{tabular}{c}
$[/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}{c}
[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}{c}
$[/tex]\[tex]$ 2$[/tex] per \\
transaction
\end{tabular} & \begin{tabular}{c}
[tex]$\$[/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}{c}
$[/tex]\[tex]$ 0$[/tex] per \\
transaction
\end{tabular} & \begin{tabular}{c}
[tex]$\$[/tex] 5[tex]$ or $[/tex]\[tex]$ 0$[/tex] with \\
direct deposit
\end{tabular} \\
\hline
\end{tabular}

Which checking account would be best for Irma?

A. Account A
B. Account B
C. Account C
D. Account D



Answer :

GinnyAnswer
To determine which checking account is best for Irma, let's evaluate each account based on the given criteria.

1. Account A:
- Minimum Balance: [tex]$500 - Interest Rate: 0.1% - Overdraft Protection: Yes - ATM Fees: $[/tex]0 for all ATMs
- Monthly Fee: [tex]$0 2. Account B: - Minimum Balance: $[/tex]250
- Interest Rate: 0%
- Overdraft Protection: No
- ATM Fees: [tex]$0 for ABC bank ATMs - Monthly Fee: $[/tex]5

3. Account C:
- Minimum Balance: [tex]$50 - Interest Rate: 0% - Overdraft Protection: No - ATM Fees: $[/tex]2 per transaction
- Monthly Fee: [tex]$10, or $[/tex]0 with direct deposit

4. Account D:
- Minimum Balance: [tex]$100 - Interest Rate: 0.1% - Overdraft Protection: No - ATM Fees: $[/tex]0 per transaction
- Monthly Fee: [tex]$5, or $[/tex]0 with direct deposit

### Evaluation Criteria

a. Monthly and ATM Fees:
- Account A offers [tex]$0 monthly fee and $[/tex]0 ATM fees for all ATMs.
- Account B has a [tex]$5 monthly fee and $[/tex]0 ATM fees but only for ABC bank ATMs.
- Account C charges [tex]$10 monthly fee (or $[/tex]0 with direct deposit) and [tex]$2 per ATM transaction. - Account D charges $[/tex]5 monthly fee (or [tex]$0 with direct deposit) and $[/tex]0 ATM fees.

b. Minimum Balance:
- Account A requires the highest minimum balance of [tex]$500. - Account B requires $[/tex]250.
- Account C requires the lowest minimum balance of [tex]$50. - Account D requires $[/tex]100.

c. Interest Rate:
- Accounts A and D offer an interest rate of 0.1%.
- Accounts B and C offer 0% interest.

d. Overdraft Protection:
- Only Account A offers overdraft protection.

### Analysis and Conclusion

- Account A has no monthly fee and no ATM fees which maximizes savings on fees. Although it requires a higher minimum balance, it is suitable if Irma can maintain this balance.
- Account B, despite a lower required minimum balance, has a [tex]$5 monthly fee and restricted ATM usage. - Account C’s $[/tex]2 fee per ATM transaction could add up quickly, aside from the conditional monthly fee.
- Account D could potentially have no monthly fee with direct deposit and offers no ATM fees, similar to Account A, but lacks overdraft protection.

Given the analysis, Account A stands out as the best choice for Irma, offering the combination of no monthly fees, no ATM fees, and the benefit of overdraft protection, provided she can maintain the required minimum balance of $500.

Thus, the best checking account for Irma is:
Account A

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