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CD Account Questions with complete solution

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CD Account Questions with complete solution CD Account CD ? - correct answer - A bank CD is a great place to lock in a higher interest rate. At Nationwide Bank®, you'll find competitive CD interest rates and flexible terms, from 3 months up to 5 years. -Our certificate of deposit rates a...

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  • November 13, 2024
  • 3
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • cd account
  • cd account questions with complete solution

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  • CD
  • CD

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CD Account
CD ? - correct answer ✔- A bank CD is a great place to lock in a higher
interest rate. At Nationwide Bank®, you'll find competitive CD interest rates
and flexible terms, from 3 months up to 5 years.


-Our certificate of deposit rates are significantly higher than the national
average1. In fact, in the last 4 years, Nationwide Bank earned the
Bankrate.com Top-Tier award for consistently offering top-tier annual
percentage yields (APYs).


Term - correct answer ✔-3m-60m
-$0-100,000+
-APY= 0.25%-1.62


Features - correct answer ✔-Bank CDs are a great way to grow your savings
with confidence. A fixed CD interest rate lets you know how much you will get
when your CD matures.


What is a certificate of deposit account? - correct answer ✔-A certificate of
deposit is an FDIC-insured2 interest-bearing account that is typically
associated with longer-term savings.


- A bank CD gives you the flexibility of choosing how long you'd like to hold
the CD, anywhere from 3 months to 60 months.


-At the end of this term, the CD matures, meaning you get your initial deposit
plus the interest you have accrued.

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