Learning through examples (part II)

Example 3

Mike opened a new bank account, and his accounts have both a maintenance fee and an overdraft fee. He pays €5 every month. His checking account has around €50, and he plans to buy new clothes using his debit card for €65. His payment goes through, but his checking account is now -€15 (negative $15). His bank charges him a €30 overdraft fee, making his checking account balance -€45 (negative $45).

SAVING ACCOUNT

Example 1

Jon is planning to open a savings account. He looks at Bank A, which offers 1.5% interest, and Bank B, which offers 1%. Assuming Jon wants to get high interest, he will pick Bank A.