Question

money market accounts come with various features, but one stands out as a key benefit.
what is a key benefit of having a money market account?
choose 1 answer:
a no low balance fees
b higher interest rates paid compared to checking accounts
c no minimum opening deposit
d unlimited daily transactions

Explanation:

To determine the key benefit of a money market account, we analyze each option:

• Option A: Many money market accounts do have low balance fees if requirements aren't met, so this is incorrect.
• Option B: Money market accounts typically offer higher interest rates than checking accounts, which is a key benefit.
• Option C: Most money market accounts have a minimum opening deposit, so this is incorrect.
• Option D: Money market accounts have transaction limits (unlike checking accounts with unlimited daily transactions in many cases), so this is incorrect.

Answer:

B. higher interest rates paid compared to checking accounts