Final answer:
A certificate of deposit (CD) is a financial instrument that offers a fixed rate for the term the owner chooses.
Step-by-step explanation:
The financial instrument described as offering a fixed rate for the term the owner chooses is a certificate of deposit (CD). A certificate of deposit is a type of investment or financial asset that is essentially a loan to a bank, government, or corporation. It specifies the amount of money loaned, the interest rate, and the due date.