Personal Fainance

Assignment 3

(16 points)

Assignment 3: Banking[pic 1]

Instructions

Save this file in your course folder, and name it with Assignment, the section number, and your first initial and last name. For example, Jessie Robinson's assignment for Section 1 would be named Assignment1JRobinson.

Type the answers to the assignment questions below. Use complete sentences unless the question says otherwise. You will have more than one day to complete an assignment. At the end of each day, be sure to save your progress.

Review Lesson 4 of the Course Overview for instructions about turning in your assignments.

Assignment Questions

1. Visit the website of a large national bank, regional bank, or credit union, and use the information you find there to answer the questions below. EXAMPLE: Some large banks you might consider include Bank of America®, JPMorgan Chase®, Wells Fargo®, Citibank®, and U.S. Bank®.

        a. What is the name of the bank or credit union? (0.5 points)

            Bank of America

b. List three facts about savings account options at the bank or credit union you chose. (3 sentences. 1.0 points) How much money you need to open account. How much interest paid. The penalty for withdrawal

c. List three facts about checking account options at the bank or credit union you chose. (3 sentences. 1.0 points) How much money you need to open account. How much interest paid. How much charge per check

        d. Does this bank or credit union offer online banking? (0.5 points)

             yes it does have online banking.

e. Would you be likely to choose this as your bank or credit union? Why or why not? List at least two reasons for or against choosing this bank or credit union. (3-6 sentences. 2.0 points) I would choose this bank because i know how they work. My parents also trust this bank. I think bank of America is one of the best banks in the united state.

2. Visit the website of a second large national bank, regional bank, or credit union, and use the information you find there to answer the questions below.

        a. What is the name of the bank or credit union? (0.5 points) Region bank

b. List three differences you found between the accounts and features this bank or credit union offers and the bank from question 1 above. (1-3 sentences. 1.0 points)

          the different between those two are policy. One of them pay more interest than the other. This change more for check than bank America.