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Really clueless financial question

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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
 
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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
 
 

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