Explanation:
College students typically have limited financial resources and may not be able to maintain high minimum balances. Therefore, accounts with low or zero minimum balance requirements are more appealing to them. Additionally, students often conduct frequent, small transactions, so low to moderate item charge/activity fees are preferable to avoid excessive costs.
Thus, Option C is the most appropriate choice for attracting college students.
Ultimate access to all questions.
A bank is located near a college campus and would like to attract students to the bank. Which of the following conditional pricing demand deposit accounts would most likely appeal to a college student?
A
A high minimum balance, no item charge/activity fees account.
B
A high minimum balance, high item charge/activity fees account.
C
A low or zero minimum balance account with low- to moderate-item charge/activity fees account.
D
A low or zero minimum balance account with high item charge/activity fees account.
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