Hey kids, did you know banks offer special accounts called money market accounts (MMAs)? They're like super savings accounts! You put your money in, and it earns a little extra each year, like interest.
- MMAs are similar to regular savings accounts, but often pay higher interest.
- The average MMA interest is around 0.64% right now, but some offer over 4%!
- The more money you put in, the more interest you earn.
| Amount Invested | Interest Rate | Interest Earned (1 year) |
|---|---|---|
| $10,000 | 0.64% | $64.20 |
| $10,000 | 4% | $408.08 |
It's important to compare different MMAs to find the best interest rate. Remember, this isn't about crypto; it's about earning more money from your savings!
