Join ExamsbookAnswer : 1. "the money has to remain in the account for a specified period of time"
What is true about certificates of deposit?5
Q: What is true about certificates of deposit?
- 1the money has to remain in the account for a specified period of timetrue
- 2they are the most liquid account availablefalse
- 3they offer lower interest rates than savings accountsfalse
- 4All the abovefalse
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Answer : 1. "the money has to remain in the account for a specified period of time"
Explanation :
Answer: A) the money has to remain in the account for a specified period of time Explanation: A certificate of deposit (CD) is a savings certificate with a fixed maturity date, specified fixed interest rate and can be issued in any denomination aside from minimum investment requirements. CD's are generally issued by commercial banks