Wyatt Keeps $25,000 in an Interest-Bearing Time Deposit with the Bigbux

question 123

Multiple Choice

Wyatt keeps $25,000 in an interest-bearing time deposit with the Bigbux Bank. While earning a relatively attractive rate of interest, Wyatt had to agree to not withdraw any of the funds until the end of a three-year period. Wyatt's investment represents a(n)

• A) passbook savings account.
• B) negotiable order of withdrawal (NOW) account.
• C) individual deferred earnings account (IDEA).
• D) certificate of deposit (CD).

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