Question

quiz
question 6 of 6
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

Explanation:

Para determinar la cuenta correcta, analizamos las características:

• Savings Account: Tiene depósito inicial bajo, tasa de interés baja. No coincide.
• Money Market Account (MMA): Requiere depósito inicial grande, tasa de interés alta y acceso fácil al dinero. Coincide con la descripción.
• Certificate of Deposit (CD): Limita el acceso al dinero hasta su vencimiento. No coincide.
• Checking Account: Depósito inicial bajo, tasa de interés muy baja. No coincide.

Answer:

B. Money Market Account (MMA)