ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -certificate of deposit. receipt showing that an investor has made an interest-bearing loan to a financial institution. finance company. firm that makes loans directly to consumers and specilizes in buying installment contracts from merchants who sell on credit.

Detailed explanation-2: -A money market account is an interest-bearing account you can open at your financial institution. Most banks and credit unions offer a money market account option. These accounts usually pay a higher rate of interest than a basic savings account.

Detailed explanation-3: -The definition of certificate of deposit is an account that allows you to save money typically at a fixed interest rate for a fixed amount of time-say, 6 months, 1 year or 5 years. 1.

Detailed explanation-4: -A Certificate of Deposit (also known as a CD, COD, or Time Account) is a financial product that usually pays a fixed interest rate for a set period of time, ranging from a few months to several years. This period of time is known as a “term.”