Earning a relatively attractive rate of interest

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Herb has $20,000 in an interest-bearing time deposit with the Applebottom Bank and Trust Company. While earning a relatively attractive rate of interest, Herb had to agree to not withdraw any of the funds until the end of a three-year period. Herb's investment represents a(n): A. passbook savings account. B. negotiable order of withdrawal (NOW) account. C. individual deferred earnings account (IDEA). D. certificate of deposit (CD).

Reference no: EM13793851

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Earning a relatively attractive rate of interest : Herb has $20,000 in an interest-bearing time deposit with the Applebottom Bank and Trust Company. While earning a relatively attractive rate of interest, Herb had to agree to not withdraw any of the funds until the end of a three-year period. Herb's ..

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