A certificate of deposit is a type of savings account that pays
A) an increasing rate of interest on funds left on deposit for a certain period of time.
B) a fixed rate of interest on funds left on deposit for a certain period of time.
C) a rate based on the depository bank's credit quality.
D) a rate that changes based on inflation.
Correct Answer:
Verified
Q39: Bank A offers an account with a
Q40: An account that pays a nominal rate
Q41: Compared with time deposits, demand deposits
A) place
Q42: A time deposit account will typically pay
Q43: Which is a time deposit account?
A) mutual
Q45: Citibank is offering a 5-year CD at
Q46: A money market mutual fund is a
Q47: Which of the following investments is FDIC
Q48: Calista has saved $20,000, which she plans
Q49: Which of the following types of accounts
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