Which of the following is a note of the bank where a payee purchases it and collects principle plus a set amount of interest in the future?
A)Cashier's check
B)Certificate of deposit
C)Certified check
D)Traveler's check
E)Draft

Question

Quizplus · Accepted Answer

A)A certificate of deposit is a promise by a bank to pay a payee a certain amount of
money at a future time.
B)A certificate of deposit is a promise by a bank to pay a payee a certain amount of money at a future time.
C)A certificate of deposit is a promise by a bank to pay a payee a certain amount of money at a future time.
D)A certificate of deposit is a promise by a bank to pay a payee a certain amount of money at a future time.
E)A certificate of deposit is a promise by a bank to pay a payee a certain amount of money at a future time.

Which of the Following Is a Note of the Bank