Scott is choosing between two checking account options. At Bank A, Scott will pa

Question

Scott is choosing between two checking account options. At Bank A, Scott will pay a $5 monthly maintenance fee and will earn 0.5% interest on his average monthly balance. At Bank Z, Scott is not charged a monthly fee and earns interest at the rate of 0.25% a month on his average monthly balance. [The amount to be credited or subtracted for the month is determined by first calculating the interest to be paid, then subtracting all bank fees or charges from this amount]. Based on the information provided, which of the following is true? aIf Scott

Explanation / Answer

bIf Scott

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