Question

Harry wants to save money in a bank account. He decides to open a _______ account with a five-year maturity date because it offers ________ than a savings account does.

Answer 1

Answer:

The correct answers are: ''money market'' and ''higher interest rate''

Explanation:

A money market account, or MMA, is the name given to the type of account that is an interest-bearing account at a bank. This type includes more benefits that other regular savings account, like for example higher interest rate, checkwriting, debit card privileges and insurance protection. However, it also comes with more restrictions that other normal accounts, those are the disadvantages of it. For example, the person only get six transactions per month, making it less flexible that other but at the same time is more profitable due to the higher interest rate.

Answer 2

Money Market,  a higher interest rate