you have decided both to open a savings account and to purchase a vehicle. you would like a savings account…

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.\nloan rates\nbank a 5%\nbank b 4.6%\nbank c 5.1%\nsavings rates\nbank a 0.13%\nbank b 0.1%\nbank c 0.11%\na. bank a for the car loan and bank b for the savings account\nb. bank c for the car loan and bank c for the savings account\nc. bank b for the car loan and bank a for the savings account\nd. bank b for the car loan and bank b for the savings account

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.\nloan rates\nbank a 5%\nbank b 4.6%\nbank c 5.1%\nsavings rates\nbank a 0.13%\nbank b 0.1%\nbank c 0.11%\na. bank a for the car loan and bank b for the savings account\nb. bank c for the car loan and bank c for the savings account\nc. bank b for the car loan and bank a for the savings account\nd. bank b for the car loan and bank b for the savings account

Answer

Answer:

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

Explanation:

Step1: Compare loan rates

Bank B has the lowest loan rate (4.6%) among Bank A (5%), Bank B (4.6%), and Bank C (5.1%).

Step2: Compare savings rates

Bank A has the highest savings rate (0.13%) among Bank A (0.13%), Bank B (0.1%), and Bank C (0.11%).