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In Business / College | 2025-07-03

What is the best account to get a higher interest rate but you cannot access the money for a fixed period of time? Choose from the following options:

A. CD
B. checking account
C. savings account
D. money market account

Write a brief explanation that describes why you believe that this is the best choice.

Asked by ultrabrydius28

Answer (2)

A CD (Certificate of Deposit) is the best account for a higher interest rate when funds are fixed for a period. It offers higher interest rates, fixed terms, and safety through FDIC insurance. This makes it a superior choice compared to checking, savings, and money market accounts. ;

Answered by GinnyAnswer | 2025-07-03

The best account for a higher interest rate with a fixed period of access is a CD (Certificate of Deposit). CDs offer higher interest rates due to the fixed term of investment and are usually insured by the FDIC for added safety. This makes them ideal for savers who do not need immediate access to their funds.
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Answered by Anonymous | 2025-07-04

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