Which statement best describes a characteristic of a CD (certificate of deposit) account? (1 point) Responses A CD has a predetermined time limit before a withdrawal can be made. A CD has a predetermined time limit before a withdrawal can be made. A CD is as flexible as a regular savings account but with higher interest rates. A CD is as flexible as a regular savings account but with higher interest rates. A CD allows for more withdrawals than a money market account. A CD allows for more withdrawals than a money market account. A CD features withdrawal minimums that are less than the account balance.
1 answer
The statement that best describes a characteristic of a CD (certificate of deposit) account is:
A CD has a predetermined time limit before a withdrawal can be made.
This reflects the nature of CDs, which require the funds to be locked in for a specific term, during which withdrawals may incur penalties.
