Question

Which of these is a characteristic of certificates of deposit (CDs)? O They are always offered at variable rates They last for a set period of time They can be opened with any amount of money O They allow access to the money at any time without penalty​

Answers

  1. The characteristic of certificates of deposit (CDs) is that it last for a set period of time and is denoted as option B.

    What is Certificate of deposit?

    This is also referred to as time deposit and is characterized by a lump sum being saved at a fixed period of time and is stricter than the normal savings system.
    This type of savings has a fixed interest rate and can’t be withdrawn before the maturity date unlike savings account which can be accessed at any point in time which makes it unique and is therefore the most appropriate choice.
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