Answer :
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.
### 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.
