|
Really clueless financial question
| Posted By |
Message |
sunny
Life is good!
Member since 5/05 8369 total posts
Name:
Stephanie
|
Really clueless financial question
What is a cd?
|
Posted 10/20/05 2:01 PM  |
| |
|
Long Island Weddings
Long Island's Largest Bridal Resource |
LadyMaravilla
Fall Is Here
Member since 5/05 12023 total posts
Name:
Sonia
|
Re: Really clueless financial question
a certificate of deposit. The money gets locked in for a certain amount of time and at a certain rate.
|
| Posted 10/20/05 2:04 PM |
| |
|
Christine
2nd verse same as the 1st
Member since 5/05 15287 total posts
Name:
|
Re: Really clueless financial question
Certificate of Deposit...a long term saving instrument that pays slightly higher interest rates then a traditional savings account but your money is locked up for the term of the deposit. They can be anywhere from 3 months - 5 years. The longer the term, the higher the interest rate. There are penalties associated with withdrawing before the end of the term.
|
| Posted 10/20/05 2:04 PM |
| |
|
Potentially Related Topics:
Currently 400500 users on the LIFamilies.com Chat
|
