What is one way that certificates of deposit (CDs) differ from other saving services?(1 point)

Question

Responses

Certificates of deposit require that the money remain deposited for a specified length of time, during which it cannot be accessed.
Certificates of deposit require that the money remain deposited for a specified length of time, during which it cannot be accessed.

Certificates of deposit usually allow an unlimited number of transactions to access the deposited money.
Certificates of deposit usually allow an unlimited number of transactions to access the deposited money.

Certificates of deposit are accompanied by a credit card that can be used at a point of sale to access the deposited money.
Certificates of deposit are accompanied by a credit card that can be used at a point of sale to access the deposited money.

Certificates of deposit typically limit the number of monthly transactions that can access the deposited money.

Answer 1

The correct response is:

Certificates of deposit require that the money remain deposited for a specified length of time, during which it cannot be accessed.

This accurately describes one of the key differences between CDs and other savings services, such as regular savings accounts, which allow for more flexibility in accessing funds.