Q If you just happen to have $1,000 lying about and you don't need it for six months, where is the best place to put it in the short term?

• Interest-bearing checking account

• Money market account

• Six-month certificate of deposit

• Six-month Treasury bill

According to Bankrate.com, the typical interest-bearing checking account pays 0.98 percent, while a typical money market account pays 2.18 percent. Six-month certificates of deposit pay 2.95 percent.

The winner is the Treasury bill. T-bills are sold at a discount from face value and then redeemed at maturity at full value. The latest yield on a six-month T-bill is 3.71 percent.

Patrick Kennedy