A savings alternative that pays a fixed rate of interest while keeping your funds on deposit for a contracted period of time that can range from 30 days to several years is called a

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Quizplus · Accepted Answer

Option D, certificate of deposit (CD), is the correct answer. A CD is a savings alternative that offers a fixed interest rate for a set period, often ranging from 30 days to several years. CDs typically offer higher interest rates than traditional savings accounts, but there are penalties for early withdrawal. Options A and B are incorrect because they refer to checking accounts, and option C is incorrect because it is not a commonly used term for savings accounts.

A Savings Alternative That Pays a Fixed Rate of Interest