If you think there’s any possibility of your use of MM being confusing or being misinterpreted, you’re safer writing out the numbers or using “millions.” The barred M was necessary because the Romans didn’t use zero, and they didn’t like using more than three identical letters in a row. If you can’t go above three M’s in a row, you can’t get to 4,000, which would be MMMM. At Old Republic Surety we seek to deliver transparency https://www.bookstime.com/ and clarity in our communications. If you see an abbreviation that is confusing or unclear, please reach out to your local underwriter or branch for clarification, even if you are just asking for a friend. If you would like to learn more about Old Republic Surety and some of our services like Commercial Surety Bonds, and Contract Bonds, or just want more information, don’t hesitate to contact us today.

The problem with M is that depending on the audience it can mean either thousands or millions. This is ambiguous; hence, if you wish to be unambiguous the use of M to mean either thousands or millions is to be avoided. Thus, we’re what does mm mean left with k and MM as to unambiguous ways to denote thousands and millions respectively. However, I often see where those who are dealing with financing (banks and investment houses for bonds) use the MM for millions of dollars.

Financial Stress

They also pay interest, although usually not as much as a money market account. Like money market accounts, passbook savings accounts are FDIC- or NCUA-insured. Check with your bank to see if there are any restrictions on withdrawals. Like high-yield savings accounts, these accounts offer interest rates that rival and sometimes exceed those of money market accounts. They also share the high-yield savings accounts’ principal weakness, which is that they may have more complicated requirements, such as a minimum number of debit transactions each month.

• Like high-yield savings accounts, these accounts offer interest rates that rival and sometimes exceed those of money market accounts.
• While some MMAs offer attractive rates, most will not be able to compete with other higher-yielding alternatives.
• If you think there’s any possibility of your use of MM being confusing or being misinterpreted, you’re safer writing out the numbers or using “millions.”
• Potential disadvantages include limited transactions, fees, withdrawal restrictions, and minimum balance requirements.

The table below compares some of the common features found in money market accounts and other types of deposit accounts. Because interest rates and other provisions can vary from one financial institution to another, it’s worth shopping around. Stating at the top of the report that “all figures are in millions of dollars” should take care of it. In finance and accounting, MM (or lowercase “mm”) commonly denotes that the units of figures presented are in millions.

When to Use the Abbreviation

It can also stand for “money making Mitch,” a reference to the character from the movie Paid in Full. Another effect of being in a relationship with a married man or woman is the social stigma that comes with it. Many people view infidelity as morally wrong, and being the other woman or man can make you feel like an outcast. You may feel like you have to hide your relationship from friends and family, which can be isolating and stressful.

Introduced in the 1970s, money market mutual funds are sold by brokerages and mutual fund companies. Under pressure from the banking industry, Congress passed the Garn-St. This new law allowed banks and credit unions to offer money market accounts that paid a “money market” rate, which was higher than the previous capped rate. Both money market accounts and money market mutual funds offer quick access to the depositor’s cash. The companies that offer them, however, can place limits on how often depositors can make withdrawals or redeem shares.

History of Money Market Accounts (MMAs)

In this context, MM is the same as writing “M multiplied by M,” which is equal to “1,000 times 1,000,” which equals 1,000,000 (one million). The interest rates on money market accounts are variable, so they rise or fall with inflation. How that interest is compounded—yearly, monthly or daily, for example—can have a substantial impact on the depositor’s return, especially if they maintain a high balance in their account. Some CDs (known as liquid CDs) don’t penalize depositors for early withdrawals but pay a lower rate of interest.