1. Which of the following features should you inquire about when choosing a savings account, according to the article?

• A. Stock market performance and investment portfolio options
• B. Loan approval process and credit card rewards
• C. Interest rates, minimum balance requirements, and account fees
• D. Mortgage rates and home insurance policies

Answer: (C)

Verified step by step guidance

1. Understand the context of the question: The problem is asking about features to consider when choosing a savings account, which is a financial product designed to store money securely while earning interest.
2. Identify the relevant features of a savings account: These typically include interest rates (how much the account earns), minimum balance requirements (the minimum amount you need to keep in the account to avoid fees or penalties), and account fees (charges for maintaining the account or specific transactions).
3. Eliminate irrelevant options: Stock market performance and investment portfolio options are related to investment accounts, not savings accounts. Similarly, loan approval processes and credit card rewards pertain to borrowing and credit products, not savings accounts.
4. Focus on the correct answer: The correct features to inquire about for a savings account are interest rates, minimum balance requirements, and account fees, as these directly impact the account's utility and cost-effectiveness.
5. Summarize the reasoning: When choosing a savings account, prioritize features that affect your ability to save and grow your money efficiently, while avoiding unnecessary costs or restrictions.