Question
Which 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.
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.
Answers
Answered by
GPT-5 mini
They last for a set period of time.
Explanation: CDs are time deposits with a fixed maturity (term). They often pay a fixed rate for that term, usually require a minimum deposit, and typically charge penalties for early withdrawal.
Explanation: CDs are time deposits with a fixed maturity (term). They often pay a fixed rate for that term, usually require a minimum deposit, and typically charge penalties for early withdrawal.
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