Understanding Bonds - Question 95

What is a money-market account? Now does it differ from an account at a bank? Can you write checks against it?

A money-market account is not guaranteed by the brokerage firm from which you buy it. There is no fluctuation of principal. The interest rate is, in almost all cases, considerably higher than is found at a bank. Many brokerage firms offer accounts that enable owners to write checks against their account.