Answer: True
Explanation: Money market accounts should not be confused with money market mutual funds. In such accounts the depositor is paid interest by the bank on all the recurring deposits made. The interest to be paid by the bank is generally fixed on the basis of interest rates availing in the money market.
In the given case, the individual wants to accumulate funds for future, thus interest bearing account such as money market account is suitable for him.
Thus, we can conclude that the given statement is true.
