Question
A certificate of deposit (CD) differs from a traditional savings account in what way?(1 point)
Responses
CDs are a riskier investment
CDs are a riskier investment
CDs include the purchase of stocks
CDs include the purchase of stocks
CDs have a low interest rate
CDs have a low interest rate
CDs must remain untouched for a fixed period of time
CDs must remain untouched for a fixed period of time
Responses
CDs are a riskier investment
CDs are a riskier investment
CDs include the purchase of stocks
CDs include the purchase of stocks
CDs have a low interest rate
CDs have a low interest rate
CDs must remain untouched for a fixed period of time
CDs must remain untouched for a fixed period of time
Answers
GPT-4o mini
The correct response is: **CDs must remain untouched for a fixed period of time.**
Certificates of deposit (CDs) typically require you to lock your funds for a specified period in exchange for a higher interest rate compared to traditional savings accounts. In contrast, a traditional savings account allows for more flexible access to your funds without a fixed term requirement.
Certificates of deposit (CDs) typically require you to lock your funds for a specified period in exchange for a higher interest rate compared to traditional savings accounts. In contrast, a traditional savings account allows for more flexible access to your funds without a fixed term requirement.