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16 December, 03:44

Which interest bearing account is best for people who won't need access to their money for several months or longer?

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  1. 16 December, 03:54
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    The correct answer to this question is a certificate of deposit.

    A certificate of deposit is an interest bearing account that pays a higher rate of interest than a savings account or interest bearing checking account because you are committing to leave it in the bank for a specified period of time. The CD could be for serveral months, or extend out to multiple years. Normally the interest rate will increase as the length of time increases.
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