An Interest-Bearing Security Issued by a Bank or Other Financial Intermediary that Represents Funds that Must be Kept on Deposit for a Specified Period of Time...Answer Revealed
An Interest-Bearing Security Issued by a Bank or Other Financial Intermediary that Represents Funds that Must be Kept on Deposit for a Specified Period of Time; If the Funds are Withdrawn Prior to Maturity, Then the Investor will Incur a Severe Interest Penalty. The correct answer is certificate of deposit.
by Niranjani
Updated Oct 20, 2023
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An Interest-Bearing Security Issued by a Bank or Other Financial Intermediary that Represents Funds that Must be Kept on Deposit for a Specified Period of Time; If the Funds are Withdrawn Prior to Maturity, Then the Investor will Incur a Severe Interest Penalty
The correct answer is certificate of deposit.
A certificate of deposit (CD) is like a special savings account. You put a certain amount of money in it for a set time, like six months or a year. In return, the bank gives you some extra money called "interest." When you want to take your money out, you get back what you put in plus the interest you earned.
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An Interest-Bearing Security Issued by a Bank or Other Financial Intermediary that Represents Funds that Must be Kept on Deposit for a Specified Period of Time - FAQ
1. An Interest-Bearing Security Issued by a Bank or Other Financial Intermediary that Represents Funds that Must be Kept on Deposit for a Specified Period of Time; If the Funds are Withdrawn Prior to Maturity, Then the Investor will Incur a Severe Interest Penalty
The correct answer is certificate of deposit.
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