Pick the Advantage of a Certificates of Deposit from This

question 67

Multiple Choice

Pick the advantage of a certificates of deposit from this list of possibilities.

• A)The interest paid is compounded daily.
• B)Early withdrawals after 30 days do not incur a penalty.
• C)Interest rates are generally higher than typical savings accounts.
• D)They earn the APY and not the APR.

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Definitions:

Unenforceable Contracts

Agreements that, due to legal deficiencies, cannot be upheld or enforced by the courts.

Void Contracts

Agreements that are illegal or against public policy and therefore unenforceable by law.

Bilateral Contract

A contract in which the promise of one of the parties forms the consideration for the promise of the other.

Unilateral Contract

A contract where one party makes a promise in exchange for an act by the other party.