Acertificate of deposit pays a higher interest rate than a savings account because the money is guaranteed by the government. kept by banks for a longer time period. loaned to banks by consumers. immediately available to consumers.

A certificate of deposit pays higher interest rate than a savings account because the money is: B) Kept by the banks for a longer period of time. If you agree to put money into a certificate of deposit it is typically for a minimum of three months to a maximum of 5 years. Because this is such a long period of time it can incur more interest than a savings account.

The rate of interest on a certificate of deposit is higher than the savings account because the money is kept by banks for a longer time period.

A certificate of deposit (CD) is an instrument offered by the banks to its customer who agrees to deposit a lump sum for a specific period without withdrawal.

The term of CD is generally longer than the savings account. The longer the term, the more will be interest.  

A savings account on the other hand is a financial product that allows the holder to deposit and withdraw their money at any time. The rate of interest is generally 0.50% which is lower than the interest on CD.

Therefore, it can be concluded that CD offers a higher rate of interest than a saving account as the tenure of CD is longer than the saving accounts.

Hence the correct option is B.

Learn more about the Certificate of deposit and savings account here:

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in which two ways were the northeast woodland indians and the southeast indians similar? both collaborated to form the iroquois confederacy. both cultivated the crops of corn, beans, and squash. both lived in rich environments of swamps and rivers. both lived in tree-bark dwellings called wigwams. both expected men to hunt, while women farmed.

the answer is heceta and bodega y quadra. i hope i you with this question!