Definition: This type of investment account has a specific fixed term/length, fixed interest rate, is insured by the FDIC, and is very low risk to consumers.

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asked Nov 18, 2021 232k views

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Artem Khojoyan · Answer 1 · 2021-11-23T04:49:14+0000

Answer:

The answer is Certificate Of Deposit.

Step-by-step explanation:

A certificate of deposit (CD) refers to a product which is usually offered by banks and credit unions and which provides an interest rate premium based on the condition that the customer agrees to leave a lump-sum deposit untouched for a particular length of time.

Almost all consumer financial institutions offer certificates of deposit, but each bank can set its own peculiar certificate of deposit terms and conditions.

Definition: This type of investment account has a specific fixed term/length, fixed interest rate, is insured by the FDIC, and is very low risk to consumers.

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