Question: A certificate of deposit is a type of savings account that pays an increasing rate of interest on funds left on deposit for a certain

A certificate of deposit is a type of savings account that pays

an increasing rate of interest on funds left on deposit for a certain period of time.

a fixed rate of interest on funds left on deposit for a certain period of time.

a lower rate of interest the higher the maturity period.

the same rate of interest regardless of the maturity period.

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