Because of penalties imposed for early withdrawal, a CD depositor is unlikely to withdrawal the CD funds from the bank before maturity.

Name: Because of penalties imposed for early withdrawal, a CD depositor is unlikely to withdrawal the CD funds from the bank before maturity.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

This is because an early withdrawal penalty is typically imposed by the bank, which deters the depositor from taking out the funds before the CD has matured.

Because of Penalties Imposed for Early Withdrawal, a CD Depositor