_______________________ that require the depositor to commit to leaving their funds in the bank for a certain period of time, in exchange for a higher rate of interest are also called ________________.
A. Demand deposits; certificates of deposit
B. Certificates of deposit; time deposits
C. Money market funds; time deposits
D. Bonds; term deposits
Answer:B
_______________________ that require the depositor to commit to leaving their funds in the bank for a certain period of time, in exchange for a higher rate of interest are also called ________________.
A. Demand deposits; certificates of deposit B. Certificates of deposit; time deposits C. Money market funds; time deposits D. Bonds; term deposits
Explanation: Type: Multiple Choice