You have decided both 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. You currently have a checking account at Bank A. 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.
Loan Rates
Savings Rates
Bank A
596
Bank A
0.13%
Bank B
4.6%
Bank B
0.1%
Bank C
5.1%
Bank C
0.11%
a Bank A for the car loan and Bank B for the savings account
b. Bank C for the car loan and Bank C for the savings account
c. Bank B for the car loan and Bank A for the savings account
d. Bank B for the car loan and Bank B for the savings account