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It Is Possible to Lose Money on a Certificate of Deposit

question 54

True/False

It is possible to lose money on a certificate of deposit if the early withdrawal penalty is greater than the interest earned.


Definitions:

Lowest Terms

The most reduced form of a fraction, where the numerator and denominator are the smallest whole numbers possible.

Mixed Numbers

Numbers consisting of an integer and a proper fraction, representing sums of whole numbers and fractions.

Improper Fractions

Fractions where the numerator is greater than or equal to the denominator, representing a value of one or more.

Lowest Terms

The simplest form of a fraction, where the numerator and the denominator are reduced to their smallest whole numbers.

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