Answered

Welcome to Westonci.ca, where you can find answers to all your questions from a community of experienced professionals. Our Q&A platform provides quick and trustworthy answers to your questions from experienced professionals in different areas of expertise. Discover detailed answers to your questions from a wide network of experts on our comprehensive Q&A platform.

Which account generally has a higher interest rate but has a penalty for accessing the money before the account matures (end date)?

A. Certificate of deposit
B. Savings account
C. Money market account

Sagot :

GinnyAnswer

Final answer:

A Certificate of Deposit offers higher interest but has a penalty for early withdrawal.


Explanation:

A Certificate of Deposit (CD) generally offers a higher interest rate compared to a regular savings account but has a penalty for accessing the money before the account matures. For example, if you invest in a CD with a bank for a set period, such as a few months to several years, you will earn a higher interest rate on your deposit. However, withdrawing the money before the end date may result in a substantial penalty.


Learn more about Certificate of Deposit (CD) here:

https://brainly.com/question/34237513


We appreciate your time on our site. Don't hesitate to return whenever you have more questions or need further clarification. We appreciate your time. Please come back anytime for the latest information and answers to your questions. Westonci.ca is your trusted source for answers. Visit us again to find more information on diverse topics.