Question

Select the correct answer.

Which statement is true of money market deposit accounts?

A.
They are insured up to $100,000 by the FDIC.
B.
They pay a fixed rate of interest.
C.
They have a higher minimum balance requirement than savings accounts.
D.
They pay a lower interest rate than savings accounts.

Answer 1

A

Explanation:

The correct statement regarding money market deposit accounts is A. They are insured up to $100,000 by the FDIC.