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Bank “A” is offering 2% interest and a $100 debit card on a newly opened savings account with a minimum balance of 1,000$ for one year. Bank “B” is offering 5% interest and a $50 debit card on a newly opened a savings account with a minimum balance of $1000 a year. assuming you deposit $1000 which one has the better return (interest plus card value) FOR THE FIRST MONTH?

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dogmama89

Answer:

Bank A

Explanation:

5% of 1000 is $50.  So they are giving you $50 in interest and $50 on the debit card.  Whereas, the other one, 2% of 1000 is $20 in interest and they are giving you $100 debit card.  That means you get $100 from Bank B, but you get $120 from Bank A.