pablo wants to start a savings account and apply for a vehicle loan. hes not sure which bank he should open…

pablo wants to start a savings account and apply for a vehicle loan. hes not sure which bank he should open the savings account with and which bank he should apply for the vehicle loan. he wants the most return on his money in savings, but he doesnt want a high rate on his vehicle loan. given this information and the tables below, determine with which bank pablo should open his savings account and with which bank he should apply for a vehicle loan.\nloan rates\nbank a 4.3%\nbank b 4.1%\nbank c 5.4%\nsavings rates\nbank a 1%\nbank b 1.3%\nbank c 1.1%\na. bank b for the car loan and bank b for the savings account\nb. bank b for the car loan and bank c for the savings account\nc. bank c for the car loan and bank a for the savings account\nd. bank a for the car loan and bank c for the savings account

pablo wants to start a savings account and apply for a vehicle loan. hes not sure which bank he should open the savings account with and which bank he should apply for the vehicle loan. he wants the most return on his money in savings, but he doesnt want a high rate on his vehicle loan. given this information and the tables below, determine with which bank pablo should open his savings account and with which bank he should apply for a vehicle loan.\nloan rates\nbank a 4.3%\nbank b 4.1%\nbank c 5.4%\nsavings rates\nbank a 1%\nbank b 1.3%\nbank c 1.1%\na. bank b for the car loan and bank b for the savings account\nb. bank b for the car loan and bank c for the savings account\nc. bank c for the car loan and bank a for the savings account\nd. bank a for the car loan and bank c for the savings account

Answer

Explanation:

Step1: Find lowest loan - rate

Compare loan - rates: Bank A has 4.3%, Bank B has 4.1%, Bank C has 5.4%. The lowest loan - rate is 4.1% from Bank B.

Step2: Find highest savings - rate

Compare savings - rates: Bank A has 1%, Bank B has 1.3%, Bank C has 1.1%. The highest savings - rate is 1.3% from Bank B.

Answer:

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