Question
What type of banking transaction allows a customer to
temporarily invest their money with the bank in exchange for higher interest rates, but with limited access to the funds?Solution
A Certificate of Deposit (CD) is a time deposit that offers higher interest rates in exchange for locking in funds for a specified period.
More Accounts Questions
9 17 53 103 310 619
...19, 20, 39, 59, 98, 156, 255
- 1054, 910, 714, 456, 134, -266
- Find the wrong number in the given number series.
8, 19, 12, 23, 16, 36 21 32 54 86 131 186
...1, 4, 20, 126, 1026, 10170
17, 33, 69, 133, 233, 370
332, 404, 350, 390, 360, 380
Find the wrong number in the given number series.
1, 8, 27, 65, 125, 2163, 8, 28, 88, 258, 648
