Certificates of deposit are good for
A) Beating inflation and growing your money
B) Building a solid savings foundation
C) Investing for long-term growth
D) Investing in the short-term

Question

Quizplus · Accepted Answer

Certificates of deposit are a type of savings account that typically offer higher interest rates than traditional savings accounts. They are ideal for building a solid savings foundation as they are low-risk and offer a guaranteed return on investment. While they can be used for short-term investing, they are not recommended for long-term growth as the interest rates may not keep pace with inflation.

Certificates of Deposit Are Good for