Which type of savings plan offers the least access to your money?A.Certificate of depositB.Money market accountC.Savings accountD.Checking accountSUBMITarrow_backPREVIOUS
Question
Which type of savings plan offers the least access to your money?A.Certificate of depositB.Money market accountC.Savings accountD.Checking accountSUBMITarrow_backPREVIOUS
Solution
A. Certificate of Deposit offers the least access to your money. This is because a Certificate of Deposit (CD) is a type of savings account that has a fixed interest rate and fixed date of withdrawal, known as the maturity date. CDs also typically don't allow you to add money to the account once it's opened. If you withdraw money from the CD before the maturity date, you will likely have to pay a penalty.
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