medium · LSAT Logical Reasoning
A regional bank recently increased the interest rates it offers on its savings accounts, expecting that this would attract a significant number of new depositors. However, in the three months following the rate increase, the bank saw a net decrease in the total amount of money held in its savings accounts.
Which one of the following, if true, most helps to resolve the apparent paradox?
- Opening any new savings account at the bank now requires that a prospective customer make an initial deposit of at least five hundred dollars.
- The bank's new rate, though higher than before, still falls slightly below the savings rate currently offered by its chief competitor.
- The bank spent a large share of its quarterly advertising budget publicizing the new and higher rates on local television and radio.
- Soon after the rate rose, a nationwide downturn forced many of the bank's existing customers to withdraw savings for basic living costs.
- The total savings on deposit fell so far that the bank now holds less money in those accounts than any other bank in the entire country.
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