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certificate of deposit (CD)
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certificate of deposit (CD)


We won’t need the money until August, so we put the money in a 3-month certificate of deposit to earn more interest.
  money deposited with a financial institution for a stated time for a fixed rate of interest
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certificate of deposit bank CD
Notes:
CDs qualify for FDIC insurance which currently covers $200,000 per depositor. Typically, long-term CDs pay a higher rate of interest than shorter term CDs. Retirees often create a "ladder" of CDs that will mature at different times as they anticipate needing more funds.
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Samples:
  • We won’t need the money until August, so we put the money in a 3-month certificate of deposit to earn more interest.
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Associated words [difficulty]:   certificate of deposit (CD) , Individual Retirement Account (IRA) [3] , bond [4] , financial commodities [5] , stock [7] , mutual fund [8] , hedge fund [9] , municipal bond [9]
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Most commonly used in these subjects:   Personal Finance, Business, Law
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