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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
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Really clueless financial question
What is a cd?
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Posted 10/20/05 2:01 PM  |
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LadyMaravilla
Fall Is Here
Member since 5/05 12023 total posts
Name:
Sonia
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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.
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| Posted 10/20/05 2:04 PM |
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Christine
2nd verse same as the 1st
Member since 5/05 15287 total posts
Name:
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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.
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| Posted 10/20/05 2:04 PM |
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