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Sagot :
I would recommend a certificate of deposit (CD) for Janelle to keep all her savings.
What is a certificate of deposit (CD)?
A certificate of deposit (CD) can be defined as a secured form of time-bound deposit and a special low-risk savings account that is issued by a financial institution (bank) to its customers, wherein money (lump-sum) are left with the bank for a specific period of time in exchange for an interest rate premium.
This ultimately implies that, a certificate of deposit (CD) pays a higher interest rate to its holder than other regular savings account because banks usually invest the money (lump-sum) in a business to make profit.
Additionally, a bank's certificate of deposit (CD) is protected and insured by the Federal Deposit Insurance Corporation (FDIC) for up to $250,000.
In conclusion, I would recommend a certificate of deposit (CD) for Janelle to keep all her savings because it would pay a higher interest rate.
Read more on interest rate here: brainly.com/question/24341207
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