Question

interest 0.2% 0% 0% 0.2% overdraw fees $0 if linked with savings account or $40 per overdraw $35 per overdraw $25 per overdraw $40 per overdraft atm usage/fees $0 for all atms $0 for abc bank atms /$3 for non - abc bank atms $3 per transaction $2.50 per transaction monthly fee $10 or $0 with direct deposit $0 $0 $7 or $0 with linked savings online bill payment free free free free minimum deposit to open $100 $100 $50 $500 check writing limits unlimited 12 per month 10 per month unlimited jana wants an account with the lowest fees. which checking account would be best for jana?

Explanation:

Step1: Analyze Overdraw Fees

Compare the overdraw fees:

• First account: $\$0$ (if linked with savings) or $\$40$
• Second account: $\$35$
• Third account: $\$25$
• Fourth account: $\$40$

Step2: Analyze ATM Usage Fees

Compare the ATM usage fees:

• First account: $\$0$ for all ATMs
• Second account: $\$0$ (ABC bank ATMs) or $\$3$ (non - ABC)
• Third account: $\$3$
• Fourth account: $\$2.50$

Step3: Analyze Monthly Fee

Compare the monthly fees:

• First account: $\$10$ or $\$0$ (with direct deposit)
• Second account: $\$0$
• Third account: $\$0$
• Fourth account: $\$7$ or $\$0$ (linked savings)

Step4: Analyze Minimum Deposit to Open

Compare the minimum deposits:

• First account: $\$100$
• Second account: $\$100$
• Third account: $\$50$
• Fourth account: $\$500$

Step5: Analyze Check Writing Limits

Compare the check - writing limits:

• First account: unlimited
• Second account: 12 per month
• Third account: 10 per month
• Fourth account: unlimited

If we assume Jana can meet the requirements (e.g., direct deposit for the first account), the first account has many advantages. The overdraw fee can be avoided (if linked with savings), the ATM fee is $\$0$ for all ATMs, and with direct deposit, the monthly fee is $\$0$. The minimum deposit of $\$100$ is reasonable compared to the fourth account's $\$500$, and the check - writing limit is unlimited.

Answer:

The first checking account.