To determine the best checking account for Bryna, we need to evaluate each option based on her specific requirements: she has [tex]$300 to deposit, she wants an account with the least amount of fees, she does not plan on using an ATM, and her employer offers direct deposit.
Let's examine each account in detail:
### Account A
- Minimum Balance: $[/tex]500
- Interest: 0.1%
- Overdraft Protection: Yes
- ATM Fees: [tex]$0 for all ATMs
- Monthly Fee: $[/tex]5
Evaluation:
- Bryna has [tex]$300, which is less than the required $[/tex]500 minimum balance for Account A. Therefore, she cannot 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]$10
Evaluation:
- Bryna meets the minimum balance requirement of $[/tex]250.
- There are no ATM fees for ABC bank ATMs, but since Bryna does not plan on using ATMs, this detail is not very relevant.
- The monthly fee is [tex]$10, which is relatively high compared to other options.
### Account C
- Minimum Balance: $[/tex]50
- Interest: 0%
- Overdraft Protection: No
- ATM Fees: [tex]$2 per transaction
- Monthly Fee: $[/tex]0 with direct deposit
Evaluation:
- Bryna meets the minimum balance requirement of [tex]$50 easily with her $[/tex]300.
- Even though there are ATM fees, Bryna does not plan on using ATMs, so this is irrelevant.
- The monthly fee is [tex]$0, provided she uses direct deposit, which she can do since her employer offers it.
Conclusion:
Account A is not a feasible option for Bryna due to the high minimum balance requirement of $[/tex]500. Among Accounts B and C, Account C offers the best option because it has a [tex]$0 monthly fee with direct deposit, which Bryna can use, and the minimum balance requirement is only $[/tex]50, quite less than the $300 she has.
Therefore, Bryna should choose account C.
