quiz question 6 of 8 sawyer just got his learners permit and cant wait to buy his first car. he received a…

quiz question 6 of 8 sawyer just got his learners permit and cant wait to buy his first car. he received a large sum of money for his birthday and put it in an account to help it grow. he opened an account that required a large initial deposit, but that pays a high interest rate and allows him easy access to his money. what kind of account did sawyer open? select a response checking account certificate of deposit (cd) money market account (mma) savings account

quiz question 6 of 8 sawyer just got his learners permit and cant wait to buy his first car. he received a large sum of money for his birthday and put it in an account to help it grow. he opened an account that required a large initial deposit, but that pays a high interest rate and allows him easy access to his money. what kind of account did sawyer open? select a response checking account certificate of deposit (cd) money market account (mma) savings account

Answer

Brief Explanations:

Money Market Accounts (MMAs) typically offer a relatively high - interest rate and require a large initial deposit, while also providing easy access to funds. Checking accounts have lower interest rates, Certificates of Deposit (CDs) have limited access during the term, and Savings Accounts usually have lower interest rates compared to MMAs for large deposits.

Answer:

Money Market Account (MMA)