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19 January, 00:29

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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Answers (1)
  1. 19 January, 00:35
    0
    The answer is Certificate Of Deposit.

    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.
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