Experience the power of community-driven knowledge on IDNLearn.com. Get accurate and timely answers to your queries from our extensive network of experienced professionals.
Sagot :
Explanation:
certificate of deposit CDs are saving accounts that earns interest and it's insured by the federal governmentit.It has higher rates and give no access to your money until a term ends. Funds get locked up for a set period of months or years, and withdrawing early typically results in a penalty, such as several months to a year’s worth of interest. Most often, CD rates are fixed.
Money market accounts are also savings account insured by the federal government they usually offer some access and rates comparable to regular savings accounts. You can withdraw money six times a month. They generally have larger minimum balances and sometimes offer checks. Money market account rates are subject to change over time.
Thank you for joining our conversation. Don't hesitate to return anytime to find answers to your questions. Let's continue sharing knowledge and experiences! IDNLearn.com provides the best answers to your questions. Thank you for visiting, and come back soon for more helpful information.