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What is the early withdrawal penalty

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Reference no: EM132852876

Question - Choose a bank in the United States Research one financial institution in your area (brick-and-mortar banks), or an Internet-only institution (virtual banks and e-banks), to find and list various certificates of deposit currently being offered. Assume that you want to invest $10,000 for 12 months.

1. What interest rates do these CDs pay? How often is interest compounded?

2. What is the early withdrawal penalty?

3. Are these CDs insured? If so, by whom? What is the limit per account?

Overall, which institution offers the CD that would earn the most interest after 12 months?

Reference no: EM132852876

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