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What is the difference between a Money Market fund and a Money Market account .. and which has FDIC insurance? |
...supposedly the one w/FDIC coverage is up to $100K max... "Funds" are not bank products (even if sold at a bank) and are not FDIC insured. A bank money market account is FDIC-insured. A money market fund is a special form of mutual fund and is not insured. |
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i'm not exactly sure how it works, but the 4.47% (or whatever it is) is the APR, the percentage of money you will make at the end of the year. they might pay you monthly, but it won't be ... First, the proper term is "Money Market Fund". You can find an explanation of what a fund is here: ... "required"? Probably not. I am really really surprised though that the people who set up the account, and the employer's attorneys have not recommended one. It is almost a lack of fi... Call customer service. ...The time horizon that you have until your son needs the money for school will determine how much risk you should take. If you will need the funds in less than 5 years a money market, cd or US Savin... Generally speaking, there is no risk in a money market fund. The fund invests in short term products such as commercial paper that are very safe and by definition, each share is priced at a dollar.... money market: It is basically a mutual fund that invests in very short term debt instruments. Normally it pays interest rates that are about currently 4% to 5% annually. Mutual funds: these ar... Welcome to whatever country you are in. A savings account is a bank account that is FDIC insured up to $100,000. You will pay taxes on any interest every single year. Interest rate on savings ar... |
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