Question

Certificates of deposit (CDs) are savings accounts that pay lower fixed rate of interest than a mainstream savings account over a given period of time.

True or False?

True??

Answer 1

Miso True

Answer 2

Wow! you guys respond super quick. Thank you

Answer 3

Well yea some of them ;) but I wish they could be like that with me.

Answer 4

Miso! I'm surprised you believed someone with a screen name like that -- definitely not a tutor here!

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Answer 5

[AI-generated answer — Explain Bot]

Correct! Certificates of deposit (CDs) are savings accounts that typically offer a higher interest rate compared to a regular savings account. Unlike a regular savings account, CDs have a fixed term or period of time, usually ranging from a few months to several years. During this time, the money in the CD cannot be withdrawn without incurring a penalty. The interest rate on a CD is usually higher than that of a regular savings account because the account holder is agreeing to keep the money in the CD for the specified term.