Here's how much interest a $35,000 money market account can earn now

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Here's how much interest a $35,000 money market account can earn now

Money market accounts have multiple, timely features that savers should understand right now. Patrick Strattner/PS Photography/Getty Images In today's high interest rate climate, there is no shortage …

Money market accounts have multiple, timely features that savers should understand right now. Patrick Strattner/PS Photography/Getty Images In today's high interest rate climate, there is no shortage of attractive savings accounts to choose from. Certificate of deposit (CD) , high-yield savings and money market accounts all come with interest rates around 4% right now. But only one of these three will allow you to maintain the accessibility you've been used to while streamlining your banking needs under one umbrella – the money market account. Unlike a CD, you won't have to lock your money into the account to earn a competitive rate. And unlike a high-yield savings account, you'll be able to write checks and pay for expenses thanks to the check-writing features many money market accounts offer. So, if you're looking for a secure, flexible and profitable home for your money right now, a money market account could be the one to explore. And that's especially true when dealing with a large, five-figure amount such as $35,000. If you're not going to invest that money into stocks, bonds or real estate then you'll want to make sure that the earnings you can secure with a money market account will be worth it. But will they be? Below, we'll calculate the returns that savers should know before shifting any money into this unique account type. See how much interest you could be earning on your money with a top savings account here . …

Original source: CBS News Top

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