11
QuizMultiple Choice

Preparing for the Future

Question 11 • *STPSB_Quest for Success 2627 James

Although a money market account generally earns more interest than a savings account, it has the disadvantage of ____________.

Answer
A
Requiring an investing partner
B
Not allowing withdrawals until age 30
C
Not allowing withdrawals until age 60
D
Requiring a minimum balance

Explanation

Money market accounts often pay higher interest than regular savings accounts, but they commonly require you to keep a minimum amount of money in the account. If your balance falls below that amount, the bank may charge a fee or limit the account’s benefits. So the disadvantage is requiring a minimum balance.

AI-written and checked against the verified answer.

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