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18 January, 18:14

Money market deposit accounts are a type of checking and investment account. True or False?

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Answers (2)
  1. 18 January, 18:51
    0
    its true, hes right. took the test
  2. 18 January, 20:03
    0
    True

    Explanation:

    Money Market Deposit Accounts (MMDA) are a type of checking accounts with some investment's characteristics. They have higher interest rates than regular passbook savings accounts and offer a few types of check writing and debit card transactions, with restriction (will depend on the bank or credit union rules). In that way, they can be seen as an investment account, has it has interest rates benefits over regular accounts and also as a checking account due to debit card and check writing uses.
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