MindTap for Garman/Forgue's Personal Finance Tax Update, 13th Edition [Instant Access], 2 terms
MindTap for Garman/Forgue's Personal Finance Tax Update, 13th Edition [Instant Access], 2 terms
13th Edition
ISBN: 9780357438909
Author: Garman; E. Thomas; Forgue; Raymond
Publisher: Cengage Learning US
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Chapter 5.2, Problem 4CC
Summary Introduction

To Explain: Benefits and Drawbacks of certificates of deposits. 

Concept Introduction: Certificate of deposit is offered by the banks and credit unions that provide interest on a deposit of money for some fixed period. Certificate of deposit is short term security for a fixed rate of interest. The interest rate is higher than the savings account.

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