Saving pLans 2

The certificate of deposit is

• a saving account where you can make frequent deposits and withdrawals

• a checking accounts where money is held by the bank for a fixed period of time.

• a saving accounts where money is held by the bank for a fixed period of time.

Investment bank ................................

• helps individuals or organizations raise capital and provide financial consultancy services to them

• is a for-profit institution that offers a full range of financial services, including checking, savings, and lending

• is a for non-profit institution that offers a full range of financial services, including checking, savings, and lending

A commercial bank ................................

• helps individuals or organizations raise capital and provide financial consultancy services to them

• is a for-profit institution that offers a full range of financial services, including checking, savings, and lending

• is a for non-profit institution that offers a full range of financial services, including checking, savings, and lending

You must pay a penalty for withdrawing your

money early is one of the limitations of regular saving accounts.

• True

• False

You must pay a penalty for withdrawing your

money early is one of the limitations of certificate of deposit

• True

• False

A deposit certificate has a higher interest rate than regular saving accounts.

• True

• False

....................... is a savings alternative in which money is left on deposit for a stated period of time to earn a specific rate of return

• Certificate of deposit

• Investment bank

• Commercial bank

A minimum balance is a must to keep your saving accounts.

• True

• False

With a certificate of deposit, money becomes available before the date of maturity.

• True

• False

Your money must stay in the account for one month to five or more years. This is one of the limitations of .....................

• certificate of deposit

• saving accounts