Question

Which statement best compares savings accounts and money market accounts? (1 point) Responses A regular savings account has fewer restrictions on withdrawals than a money market account but at a lower interest rate. A regular savings account has fewer restrictions on withdrawals than a money market account but at a lower interest rate. A regular savings account has fewer restrictions on withdrawals than a money market account but at a higher interest rate. A regular savings account has fewer restrictions on withdrawals than a money market account but at a higher interest rate. A money market account has fewer restrictions on withdrawals than a regular savings account but at a lower interest rate. A money market account has fewer restrictions on withdrawals than a regular savings account but at a lower interest rate. A money market account allows for more withdrawals than a regular savings account but at a higher interest rate.

Answer 1

The statement that best compares savings accounts and money market accounts is:

"A money market account allows for more withdrawals than a regular savings account but at a higher interest rate."

However, it's important to clarify that money market accounts typically come with more restrictions on the number of withdrawals compared to regular savings accounts, but they usually offer higher interest rates. Thus, a more accurate statement would be:

"A money market account generally has higher interest rates than a regular savings account, but may have more restrictions on the number of withdrawals."

Please check the statement options again to see if this rephrasing fits any of the given choices.