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Whether interest rates on money market accounts change, depends on several factors, and therefore, it is hard to pin down how frequently it will rise or drop. www.bankrate.com offers in depth information on rate changes for money market accounts.

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15y ago

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Why are money market interest rates higher than interest rates paid in savings accounts?

Money Market Acccounts offer rates that are often twice as high as those on savings. The reason for this is that money can be withdrawn at any time, without penalties, check writing privileges are offered, and there are no time restrictions to pay penalties.


What is a money market account good for?

Money Market accounts are just like having a savings account, only they usually offer a higher interest rate than a normal savings account. Unlike regular savings accounts, Money Market accounts have limitation on how often you can make a withdrawal.


Can money market accounts be used for savings?

Yes, money Market Accounts have often been used for savings. In recent years, they have been paying virtually no interest, so other forms of savings may be more advantageous.


How do money market accounts differ from regular savings accounts?

A money market account is very similar in nature to a savings account with the most significant difference being that you often have the ability to write checks from it. Most broker/dealers and mutual fund companies offer money market accounts in some form.For small balances, a savings account is often more beneficial as some money market accounts can charge substantial fees unless a minimum balance is maintained. Some banks also impose restrictions on the number of withdrawals that are allowed.Money market funds are stable funds, where if you deposit $1 you will get $1 back - this is known as the "Net Asset Value" (NAV) of the fund.Be sure before you invest in any money market fund whether it is with your local bank or a broker/dealer or mutual fund that you thoroughly investigate fees, earnings, and whether or not the funds are insured.


What are the independent variables of a function?

An independent variable of a function is the variable that you cannot change by changing the other. Changes to it are not caused by the equation. If you want to graph how the money you invest in a bank account against the time that the money has been in the account, time is the independent variable. This is because the time will change at a constant rate, no matter how much or how often the money collects interest. If you change the equation, the money earned will change, but the time will not.


What amount of money multiplied by the interest rate and the amount of time that the money will be earning interest?

The amount of money that earns interest is known as the principal. When multiplied by the interest rate and the time period for which the money is invested or borrowed, it determines the total interest earned or paid. This relationship is often expressed in the formula for simple interest: Interest = Principal × Rate × Time. The resulting figure represents the interest accrued over that specific duration.


What is speculative interest?

Speculative interest refers to the desire or inclination of investors to engage in speculative activities, typically involving the purchase of assets with the expectation that their prices will rise significantly over a short period. This type of interest is often driven by the potential for high returns, but it also comes with increased risk, as market conditions can change rapidly. Investors may engage in speculation in various markets, including stocks, real estate, and cryptocurrencies, often influenced by trends, news, or market sentiment. Ultimately, speculative interest can lead to market volatility as participants react to price movements and trends.


Why are banks willing to pay interest on their customers deposits?

Banks are willing to pay interest, because they are turning around and loaning that money out to other people for more interest. They still make money on the deal, and offering interest often attracts customers with larger stacks of money.


Can you explain how a variable interest rate works?

A variable interest rate is a rate that can change over time based on market conditions. This means that the interest rate on a loan or savings account can go up or down, affecting the amount of interest you pay or earn. Variable rates are often tied to an index, such as the prime rate, and can fluctuate periodically.


What does an interest group try to do?

Interest Groups often succeed in convincing people with good reasoning. They can also convince people with money.


What describes market prices that change often and to a great degree with dramatic spikes and plunges?

Volatile is the word that best describes market prices that change often and to a great degree with dramatic spikes and plunges.


Can a bank lend money to political parties?

No. That would be a conflict of interest. Often political candidates loan money to themselves.