Question

Identify the following bank account.

This account offers a good interest rate, but tends to require a certain minimum deposit. Usually, this account becomes mature in a matter of several months. You can withdraw money from this account before it becomes mature without penalty, but there is a limit to how frequently you can withdraw it.
a.
Savings account
b.
Online savings account
c.
Money market account
d.
Certificate of Deposit

Answer 1

c. Money market account

Reason: Money market accounts typically offer higher interest and require a minimum deposit, and they allow withdrawals (often limited in frequency) without the early-withdrawal penalties that apply to certificates of deposit.