A _____ is a time deposit at a financial institution, such as a commercial bank, savings bank, or credit union.
A) commercial paper
B) Treasury bill
C) certificate of deposit
D) Bond

Question

Quizplus · Accepted Answer

A certificate of deposit is a time deposit with a financial institution where the depositor agrees to leave their funds in the account for a specific period of time in exchange for a higher interest rate than a traditional savings account. It is a low-risk investment option. Commercial paper is an unsecured short-term debt instrument issued by corporations, Treasury bills are short-term debt securities issued by the government, and bonds are long-term debt securities issued by corporations or government entities.

A _____ Is a Time Deposit at a Financial Institution