Answered

Find the best solutions to your questions at Westonci.ca, the premier Q&A platform with a community of knowledgeable experts. Experience the ease of finding precise answers to your questions from a knowledgeable community of experts. Discover in-depth answers to your questions from a wide network of professionals on our user-friendly Q&A platform.

Which type of account offers fixed interest rates for a set period of time, such as six months or a year?

A. Money market account
B. Certificate of deposit (CD)
C. Checking account
D. Savings account

Sagot :

GinnyAnswer

Final answer:

A Certificate of Deposit (CD) provides fixed interest rates for a set period in exchange for a promise to keep the funds deposited for that time.


Explanation:

A Certificate of Deposit (CD) is the type of account that offers fixed interest rates for a set period of time, such as six months or a year. With a CD, depositors agree to keep their money in the account for a specified duration in exchange for higher interest rates compared to regular savings accounts. Early withdrawal from a CD usually incurs a penalty.


Learn more about Certificate of Deposit (CD) here:

https://brainly.com/question/34237513


Thanks for using our service. We aim to provide the most accurate answers for all your queries. Visit us again for more insights. We appreciate your time. Please revisit us for more reliable answers to any questions you may have. Find reliable answers at Westonci.ca. Visit us again for the latest updates and expert advice.