Identify which of the following statements regarding money market deposit accounts (MMDAs) are NOT correct. They are FDIC insured. They offer unlimited check writing privileges. They are primarily offered by open-end investment companies. They require a minimum balance.
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How does the money market deposit account differ from other bank sources of funds? MMDAs require a lower minimum balance than NOW accounts. MMDAs do not specify a particular maturity, while conventional time deposits do. From depositor's point of view, MMDAs offer higher interest rate than retail CDs. which among the 3 is correct?
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