A saver will usually earn the highest rate with which one of the following types of savings plans?

Question

Quizplus · Accepted Answer

Certificate of deposits typically offer higher interest rates compared to other savings plans because they require a time commitment from the saver. The saver agrees to keep the funds in the account for a specified term, and in return, the financial institution offers a higher interest rate. Depending on the length of the term and the amount deposited, savers can earn interest rates that are significantly higher than other savings plans.

A Saver Will Usually Earn the Highest Rate with Which