Question

Andy and Marjorie have very little will power when it comes to spending. They want to put their savings in an instrument that cannot be accessed by their ATM card. Which instrument would meet this criterion?

Answer 1

Answer:

Money market mutual fund

Explanation:

Money market mutual fund is a fund that usually invest in short term securities, for example treasury bills.

Members are paid dividends at predetermined intervals. They provide a stable savings option.

This will be a perfect way for Andy and Marjorie to save their money, and they will not have access to it via their ATM card.