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You have decided to open a savings account and to purchase a vehicle. You would like a savings account with the highest interest rate and a vehicle loan with a low interest rate. From the banks listed below, determine with which bank you should open a savings account and at which bank should you apply for your vehicle loan

Respuesta :

We need to choose the Bank with the highest interest rate for the savings account, since:

[tex]0.12>0.11>0.1[/tex]

We can conclude Bank A is the best option

Now, we need to choose the bank with a low interest rate for the vehicle loan, since:

[tex]2.99<3.99<4.9[/tex]

We can conclude Bank A is the best option.

Answer:

Bank A for the savings account and Bank A for the car loan

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