Which of the following is not an accurate statement about money market accounts?


They can be used for writing checks.

They pay a higher rate of interest than savings accounts.

They offer a fixed interest rate.

They can be used for saving.

Respuesta :

Generally NOT true:  The offer of a fixed interest rate.

Money market accounts do tend to pay higher benefits than standard savings accounts, and they will offer limited check-writing or withdrawal privileges.  But as they are tied to investment accounts, the rates of return or interest paid may vary based on market fluctuations.

Historically, deregulation of bank deposit rules in the 1980s allowed for the creation of what have become known as money market accounts.