7
QuizMultiple Choice

Selecting a Bank

Question 7 • ****Spring 2026 Financial Math - MA2007 MQS21QXV

You are examining your choices of banks to open a new savings account. Costs include monthly maintenance fees and statement copy fees. Income can come from ___________.

Answer
A
Overdraft fees
B
Debit cards
C
Minimum monthly balance
D
Interest on deposits

Explanation

A savings account can earn income through interest paid by the bank on the money you deposit. Overdraft fees are a cost, while debit cards and a minimum monthly balance do not generate income for you. Therefore, the best answer is interest on deposits.

AI-written and checked against the verified answer.

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