Asked by Hilary Sahagun on Jul 04, 2024
Verified
_____ are savings accounts that guarantee a depositor a set interest rate over a specified interval of time as long as the funds are not withdrawn prematurely.
A) Certificates of deposits
B) Checking accounts
C) Money market accounts
D) Demand deposits
E) Negotiable Order of Withdrawal accounts
Specified Interval
A defined or agreed-upon duration or time period between events, actions, or measurements.
- Determine the various instruments and accounts available for savings, encompassing certificates of deposit, money market accounts, and savings accounts, and understand their distinct features.
Verified Answer
CR
CLAUDIA RISCOJul 06, 2024
Final Answer :
A
Explanation :
Certificates of Deposit (CDs) are time-bound savings accounts that offer a fixed interest rate for a specified period, provided the funds remain untouched until the term ends.
Learning Objectives
- Determine the various instruments and accounts available for savings, encompassing certificates of deposit, money market accounts, and savings accounts, and understand their distinct features.