Comparing Accounts - Personal Finance

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rzvyl3713

Economics

Description

Personal Finance

Comparing Accounts Assignment

Using the Internet, search for 3 banks located

in different parts of the country

. List the

checking accounts, savings accounts including money market accounts, and if available,

certificate of Deposit (CD) rate on a $5,000 1 year CD. You don’t need to list features of

every account if the bank has more than 3 basic types. Also look to see if the site lists

fees. If so, include those fees in your research.

The objective is to look for similarities and differences of various banks across the

country.

Can we really “shop” for the best account or is it the same everywhere? You may want to

create a table for the information you find.

To complete the assignment, summarize

your finding.

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Explanation & Answer

Attached.

Running head: COMPARING ACCOUNTS ASSIGNMENT

Comparing Accounts Assignment
Name
Institution

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COMPARING ACCOUNTS ASSIGNMENT

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Comparing Accounts Assignment
Personal finance management requires one to have a bank account, and with many banks
in the country, it is wise to shop to find the best option. The paper compares three banks in the
US in terms of their checking accounts, savings accounts, and certificates of deposit rates. The
banks are the Wells Fargo, the Bank of America and the Citi Bank.
When the checking accounts of the three banks are compared the Bank of America and
Citi Bank have a monthly fee of $12. When the two are compared with Wells Fargo, it has lower
monthly fee of $10. In terms of minimum opening balance, Bank of America and Wells Fargo
allows $25 while th...


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