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Which type of account will typically have the highest interest rate? A Savings Account B Certificate of Deposit (CD) C Money Market Account D Checking Account

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1 answer

Kevin Sutter on September 9, 2018

AnswerCertificate of Deposit (CD)ExplanationCertificate of deposit is a savings certificate that has a fixed maturity date. In the certificate of deposit the interest rate rate is fixed and there is no penalty if you withdraw funds before the maturity ans this can lead to inflation in your savings. In comparison with other savings accounts as a Savings Account,money Market Account,Checking Account, among others, a Certificate of deposit usually has the highest rate terms of interest.

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