Judy Martin,owner of Judy's Fashions,received a $12,000 tax refund.She deposited the money in the Toronto Dominion Bank.The terms of the agreement are that she must leave the money on deposit for three years and the bank will pay her 6 percent interest.Her account is a(n):

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The account is a certificate of deposit (CD) because Judy agreed to leave the money on deposit for three years and receive a fixed 6 percent interest rate. A CD is a time deposit with a fixed term and interest rate, and penalties for early withdrawal. Choices A, B, and C do not fit the description of the account.

Judy Martin,owner of Judy's Fashions,received a $12,000 Tax Refund