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 savings account with a minimum balance of $1,000 for one year. assuming you deposit $1,000, which has the better return (interest plus card value) for the first month?

Explanation:

On the offer of Bank A , the total return ( annual ) for deposit holder

= 2%of 1000 + 100 = 120 dollar

On the offer of Bank B , the total return ( annual ) for deposit holder

= 5%of 1000 + 50 = 100 dollar

Hence the offer of bank A is better in terms of return.

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answer; tech (a) is correct;