A(n) ________ is a promissory note issued by a bank in which the bank promises to repay money it has received, plus interest, at a certain time.

Question

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A certificate of deposit (CD) is a promissory note issued by a bank in which the bank promises to repay money it has received, plus interest, at a certain time. CDs typically have fixed terms ranging from a few months to several years, and generally offer higher interest rates than standard savings accounts.

A(n) ________ Is a Promissory Note Issued by a Bank