Question

You are examining your choices of banks to open a new checking account. Potential costs include monthly maintenance fees, statement copy fees, and ___________.
a.
Credit cards
b.
Debit cards
c.
Overdraft fees
d.
Interest on deposits

Answer 1

Answer:

B. Overdraft fees

Step-by-step explanation:

It is given that we need to open a new bank account.

The costs of opening an account will include monthly maintenance fees, statement of copy fees and 'Overdraft fees'.

Now, 'overdraft fee' allows a person to borrow money from his current account.

There are two types of overdraft fees namely authorized and unauthorized, both of which comes with extra fee and these fee mounts up very quickly.

As, credit cards are not compulsory costs, debit cards generally are one time cost and interest is received by the person on the money deposited.

This discards all the other options.

Hence, overdraft fee is the correct option.

Answer 2

The correct answer is C, overdraft fees. You receive interest when you deposit money, so you know D can not be the correct answer.<span />