why might a person choose to buy a certificate of deposit (cd) rather than depositing money in a savings…

why might a person choose to buy a certificate of deposit (cd) rather than depositing money in a savings account?\nit is easier to withdraw money from the cd than from a savings account.\nthere is no minimum amount required to buy a cd.\nthe money in the cd will double at the time of maturity.\nusually, a cd pays a higher rate of interest than a savings account.

why might a person choose to buy a certificate of deposit (cd) rather than depositing money in a savings account?\nit is easier to withdraw money from the cd than from a savings account.\nthere is no minimum amount required to buy a cd.\nthe money in the cd will double at the time of maturity.\nusually, a cd pays a higher rate of interest than a savings account.

Answer

Brief Explanations:

Certificates of Deposit (CDs) typically offer higher interest rates than savings accounts as an incentive for depositors to lock their money away for a fixed - term. Withdrawals from CDs before maturity often incur penalties, so they are not easier to access. There is usually a minimum amount to buy a CD, and there is no guarantee that the money in a CD will double at maturity.

Answer:

D. Usually, a CD pays a higher rate of interest than a savings account.