Which of the Following Are Reasons for Putting Money into a CD

question 32

Multiple Choice

Which of the following are reasons for putting money into a CD (certificate of deposit) ?

• A)To earn a higher rate of interest on your savings than would typically be earned if savings were placed in one's checking account or standard savings account
• B)To establish a solid savings foundation if you are not going to use the money for a longer period of time
• C)To have a safe place to store savings while still being able to make frequent withdrawals from the account penalty-free
• D)Both to earn more interest and to put money you don't plan to use in the short-term to work

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Definitions:

Gradual Emancipation

A process of abolishing slavery that occurs in stages over a period of time rather than immediately.

Manumission

The act of a slave owner freeing their slaves, a practice that occurred in the United States and elsewhere prior to the abolition of slavery.

Prominent Men

Individuals who stand out in society due to their achievements, influence, or contributions to various fields or social causes.

American Slaves

Individuals held in bondage and forced into labor without pay, primarily in the United States before the abolition of slavery with the Thirteenth Amendment in 1865.