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fiasKO [112]
3 years ago
5

A bank Certificate of Deposit is a: a Cash deposit in a savings account that earns interest b Certificate for deposits that are

issued for half the face value c Savings instrument that requires a deposit for a period of time during which there is a penalty for withdrawals d Savings instrument that requires a deposit for a period of time during which the saver can withdraw money from the plan at any time without a penalty
Mathematics
1 answer:
LuckyWell [14K]3 years ago
5 0

Answer:

C. Savings instrument that requires a desposit for a period of time during which there is a penalty for withdrawals.

Step-by-step explanation:

A Certificate of Deposit is a financial savings product offered by banks. A Certificate of Deposit, also known as a CD, can be obtained from a bank or a credit union.

CDs have a greater interest rate return than savings accounts due the conditions that savings from a CD cannot be withrawn for a fixed period of time. The higher the return the longer the period the savings cannot be withdrawn or the higher the intital investment.

CDs are insured by the Federal Deposit Insurance Corporation (FDIC) and if savings are not needed for a known period of time offer a better return than a savings account.

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