Question

    What type of banking transaction allows a customer to

    temporarily invest their money with the bank in exchange for higher interest rates, but with limited access to the funds?
    A Credit card transaction Correct Answer Incorrect Answer
    B Online banking login Correct Answer Incorrect Answer
    C Certificate of deposit (CD) Correct Answer Incorrect Answer
    D Home equity loan Correct Answer Incorrect Answer

    Solution

    A Certificate of Deposit (CD) is a time deposit that offers higher interest rates in exchange for locking in funds for a specified period.

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