Question

Hich of these is a characteristic of certificates of deposit (CDs)?

They are always offered at variable rates.
They last for a set period of time.
They can be opened with any amount of money.
They allow access to the money at any time without penalty

Answer 1

The correct answer is, Option B on edg 2021

Step-by-step explanation:

Answer 2

They last for a set period of time.

Step-by-step explanation:

Certificate of deposit is a special savings accounts offered by commercial banks and other deposit-taking institutions. The certificate of deposit account (CD) restricts the number of withdrawals available to customers to only one. When opening this account, a customer and the bank agrees when they can access their money.

The banks offer a higher interest rate on a certificate of deposit account as an incentive to the customer not to withdraw before the agreed period.