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small amount of money in an interest-earning account for three years, doesn’t plan on withdrawing the funds, and wants them to stay in the account until the end of the third year, It is Retail certificate of deposit (CD).
A Certificate of Deposit (CD) is what, exactly?
A certificate of deposit (CD) is a type of savings instrument that accrues interest on a single quantity of money for a certain amount of time. Unlike savings accounts, CDs require that the money stay undisturbed over the full term to avoid penalties and missed interest. Savings accounts often provide lower interest rates than CDs as compensation for liquidity loss.
The majority of consumer financial institutions provide certificates of deposit (CDs), although each bank is free to set its own conditions, rate of interest in comparison to savings and money market products, and early withdrawal fees.
To learn more about certificate of deposit CD from given link
https://brainly.com/question/27631801
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