sawyer just got his learners permit and cant wait to buy his first car. he received a large sum of money for…

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. savings account money market account (mma) certificate of deposit (cd) checking account

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. savings account money market account (mma) certificate of deposit (cd) checking account

Answer

Brief Explanations:

A money - market account (MMA) typically requires a large initial deposit, offers a relatively high interest rate compared to regular savings accounts, and also provides easy access to funds through checks or debit cards. Savings accounts usually have lower interest rates and may not require as large an initial deposit. Certificates of Deposit (CDs) have fixed terms and penalties for early withdrawal, limiting access to funds. Checking accounts generally have low or no interest rates.

Answer:

B. Money Market Account (MMA)