A certificate of deposit represents:
A) a promissory note of payment by a bank that borrows reserves from another bank.
B) a deposit in a checking account in a bank.
C) a promissory note of payment by the issuing institution to the investor.
D) a time deposit of a state government with the federal government.
E) a time deposit at a bank or other financial intermediary.
Correct Answer:
Verified
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