Beth and Mark would like to put some savings in the bank. They most likely will not need this money for 4 years, so Beth wants to put it in a four-year CD. Mark wants to put the money in a passbook savings account. What is NOT an advantage of a CD? * O Maturity dates can range from 7 days to 10 years. Typically, the longer the term is, the higher the interest rate. guarantees the payment of a fixed interest rate until maturity You cannot make deposits to or withdrawals from without a penalty.​

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Beth and Mark would like to put some savings in the bank. They most likely will not need this money for 4 years, so Beth wants to put it in a 4-year CD. Mark wants to put the money in a savings account. What is the advantage of a CD? What is the disadvantage.

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The disadvantage of Cd are that Cd has a penalties if money is withdrawn before maturity, and the advantage of CD is that Cd have higest interest rate.

Quite often, the CD will earn more interest—even if you have to pay a penalty for early withdrawal.

For example, my local credit union offers 0.10% interest on passbook savings and 1.46% interest on a 4-year CD. One of my local banks offers 0.01% interest on passbook savings, and 0.60% on a 4-year CD.

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answer: 177/8

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