Which of the following is the better banking option for Jane who keeps a minimum bank balance of $1000,needs liquidity and does ten transactions per month?
A) Ace Bank pays no interest,has no ABM fees but charges a $7.00 monthly account fee.
B) Bee Bank charges a $60 annual fee for the account,pays interest at two percent on the average monthly balance,and has $1.00 ABM fees.
C) Sea Bank charges no fees as long as the account balance remains above $1000,pays two percent interest on the average monthly balance,charges $1.00 ABM fees,and requires no minimum balance.
D) Dee Bank requires no minimum balance,pays one percent interest on the average monthly balance,and allows 10 free ABM withdrawals a month,but charges $3 per withdrawal thereafter.
Correct Answer:
Verified
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