Multiple choice

Savings certificate that entitles the owner to get interest; has a maturity date and fixed rate

  1. Money market account

  2. Certificate of Deposit (CD)

  3. Mutual funds

  4. Stocks

Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

A Certificate of Deposit (CD) is a savings product that locks your money for a specific term at a fixed interest rate. Withdrawing before the maturity date usually incurs a penalty.