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Versions	Form popularity	Fillable & printable
2019	4.5 Satisfied (55 Votes)
2012	4.6 Satisfied (65 Votes)

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What is the downside of a money market account?

The average money market rate is less than 1 percent, but you can probably do better. Lets say you put $10,000 in an account that earns a full 1% APY. After a year, your balance would earn about 100 bucks. Put that same amount in a money market account with a 4% APY, and it would gain just over $400.

What is required to open a money market account?

Opening a money market account requires the same documentation as any other bank account including a government-issued ID and your Social Security number, along with a way to fund the account.

How much will $10,000 make in a money market account?

Best Money Market Account Rates Brilliant Bank 4.40% APY. Presidential Bank 4.37% APY. Merchants Bank of Indiana 4.25% APY. Quontic Bank 4.25% APY. All America Bank 4.25% APY. Redneck Bank 4.25% APY. Republic Bank of Chicago 4.25% APY. MYSB Direct 4.25% APY.