🎴 Flashcard Mode
Certificates of Deposit (CDs)
Card1 / 15
Mastered0
Review0
QuestionClick to flip
What is a Certificate of Deposit (CD)?
AnswerClick to flip back
A
A type of savings account that offers a fixed interest rate for a specified period of time.
💡 Explanation:
A Certificate of Deposit (CD) is a type of savings account that offers a fixed interest rate for a specified period of time. CDs are typically offered by banks and credit unions, and they can be a good way to save money for a specific goal, such as a down payment on a house or a new car.